What is a trust?
A trust is a legal arrangement in which a trustee holds and manages assets for the benefit of the people you choose. It can take effect during your life or at your death, depending on how it is set up.
Revocable or irrevocable?
A revocable living trust can be changed or undone during your life and is often used to manage assets and avoid probate. An irrevocable trust gives up some control in exchange for benefits such as added protection or planning advantages.
Why people use trusts
Depending on your goals, a trust can help you:
- Avoid probate and keep your affairs private
- Plan for incapacity without court involvement
- Provide for a loved one with special needs
- Set conditions on how and when assets are distributed
Funding the trust matters
A trust only works for the assets actually transferred into it. Suzanne helps you both create the trust and fund it correctly.
Call 302.661.0400 to talk.
Common questions
Does a trust avoid probate?
A revocable living trust that has been properly funded generally allows those assets to pass outside probate.
Is Delaware a good state for trusts?
Yes. Delaware is widely regarded as having favorable trust laws, which is why many trusts are established there.