Although it might be tempting to set up a will and consider your estate planning complete, trusts should potentially be part of your plan, too. And if you set up a trust years ago, changes in tax law mean you should revisit what kind of trust is best for your estate.
"Creating the right trust can make estate planning smoother, more private and less stressful for your family," explained Phillip Reed, estate planning and asset protection attorney at Reed Law PLC. "Trusts keep your affairs out of the public record, speed up distributions, cut down on court costs and delays, help minimize taxes and simplify transfers of property in multiple states."
