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The Different Types of Trusts Available for Estate Planning

Trusts are a popular and powerful tool for estate planning, allowing individuals to control the distribution of their assets after their death. There are many different types of trusts available, each with their own unique features and benefits. In this blog post, we will explore some of the most common types of trusts used in estate planning.

  1. Revocable Living Trusts: A Revocable Living Trust is a trust that can be amended or revoked by the grantor (the person who creates the trust) during their lifetime. This type of trust is often used to avoid probate, as the assets placed in the trust are not considered part of the grantor's estate upon their death. This also allows for more privacy than probate court, where records are public. Revocable living trusts also can have a "successor trustee" named who will take over managing the trust assets if the grantor becomes incapacitated before death.

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Theresa Nguyen & Eric Reutter Present Estate Planning to Seattle's Women Leaders International Networking Group

Theresa Nguyen & Eric Reutter Present Estate Planning to Seattle's Women Leaders International Networking Group

Women Leaders International Networking (WLIN), based in Seattle, WA, is a connective group of entrepreneurial women building strong values and work ethic within our community. By promoting entrepreneurship and sharing insightful personal development tools and perspectives, WLIN is committed to helping underprivileged women of all backgrounds grow and prosper.

Financial education, such as understanding Estate Planning and it's benefits to each person, is an essential part of their agenda. Theresa Nguyen J.D. LL.M. and Eric Reutter J.D. LL.M. were invited to a luncheon to help explain and bridge the gap between the allure of Estate Planning and it's actual economical impact on an individual or family.

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