Most people believe that a simple will such as a Last Will & Testament is the standard necessity needed for protection of their assets. However a will does not protect an individual against probate a trust however does. A trust is an agreement with a third party to hold assets for the beneficiaries.The grantor can choose the timing of when and how the beneficiaries receive their money or property whether it is real property or tangible property. The differences of real and tangible property are real property includes; a house, automobile, or land whereas tangible property includes examples such as jewelry, clothing, or coins.
Trusts are one of the most popular estate plans. Trusts are made for the protection of the client and his or her beneficiaries. A trust ensures privacy so none of the information is ever public record. A trust gives the grantor freedom and choices that wouldn’t be found in a simple will. Trusts are highly recommended to those who want to make sure their assets are in a secure and safe place.