You know you’re getting older when you start to think about socking away some money for retirement instead of enjoying that second cup of latte every day. Sure, that foamy cup of wonder gets you through a long afternoon at work, but foregoing that second treat and putting the money toward a retirement account and watching that account grow, will also give you a warm feeling inside.
A trust is a legal arrangement which can be a very important tool for either a business or an individual. There are several different types of trusts that can be formed and they each have their own benefit. In order to understand the benefits of a trust, it is important to first understand exactly what it means legally. It is also important to know precisely how a trust works.