The Swiss Army Knife of Planning
"I understand why people would be nervous to transfer the title of their home to a trust, it feels like you're just giving your property away," I said to Lisa Finn,
She sent me a link and told me that trusts are the Swiss Army Knife of estate planning. Now more than ever, trusts are a critical part of an estate plan, even the simplest of trusts.
A revocable trust means property inside the trust goes where you choose when you die. It means the property bypasses the probate process, saving a lot of time and money. A trust keeps your personal business private and keep the courts out of your affairs if you become incapacitated. Estate planners like Lisa Finn can help you understand all the benefits. And like all estate planning, it's not a tool just for the uber-wealth. It's a tool everyone should consider.