Linda Strohschein says, “Failing to plan, is a plan to fail.” Planning ahead through the use of a Trust can be complicated, but the time and effort to do them right are more than worth it. With proper planning, you will be confident that you’ve taken the best steps possible to protect what matters the most – your loved ones and your family’s financial security. Call Strohschein Law Group today, 630-377-3241
Many seniors consider transferring assets for estate and long-term care planning purposes, or just to help out children and grandchildren. Gifts and transfers to a trust often make a lot of sense. They can save money in taxes and long-term care expenditures, and they can help out family members in need and serve as expressions of love and caring. But some gifts can cause problems, for both the generous donor and the recipient.
A trust is an agreement that you have with yourself that sets out the instructions for how your money will be managed both during your lifetime and after your passing. In many cases, individuals will benefit from having a trust, but not everyone needs to have one.