Uses of Trusts in Estate Planning - Stewart McKelvey
Uses of Trusts in Estate Planning - Stewart McKelvey
Uses of Trusts in Estate Planning - Stewart McKelvey
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What is a Trust? (Cont’d)<br />
• Trust assets are generally free from claims<br />
by creditors, <strong>in</strong>clud<strong>in</strong>g those challeng<strong>in</strong>g<br />
an estate plan, possibly protect<strong>in</strong>g the<br />
assets from nurs<strong>in</strong>g home costs and other<br />
claims<br />
• A very flexible tool for estate plann<strong>in</strong>g<br />
• The ma<strong>in</strong> drawback is the settlor’s loss <strong>of</strong><br />
control over the assets transferred to the<br />
trust