A common misconception is that trusts are only for the extremely wealthy, however, there are a host of benefits that trusts can provide to everyone.
Sending yourself, your spouse or one of your children to college can be very expensive. Having to pay for books, tuition, meal plans and housing can take a toll on bank accounts.
Many people do not know about the billions in property that has been left unclaimed over the years.
When planning your estate, you probably try to think about what will happen to all of your hard-earned assets when it is time for them to be distributed – things like your house, car, IRA, deposit accounts, and even your dog, Buster.
Although the Internal Revenue Code trumps IRS Publications, practitioners tend to use the Publications as the initial resource when handling day-to-day tax issues.