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The right information may take the intimidation out of trusts

It is easy to feel intimidated by aspects of estate planning that go beyond just a will. However, this feeling of intimidation often stems from a lack of information. In fact, many Arkansas residents may feel more willing to utilize trusts as part of their estate plans if they know how to create them.

As with almost anything, it is important to start by gathering information. Individuals can determine what assets they want to include in the trust and who they want to bequeath those assets to. They also need to decide who they want to manage the trust, or be the trustee, and how the trustee will manage the assets. Information is also needed regarding the duration of the trust and under what circumstances could the trust be terminated.

When it comes to the actual creation of the trust, it is best to leave it up to the professionals, and many estate planning attorneys can help with this step. However, the grantors must still fund the trust by transferring assets to it, such as by retitling assets. If the trust is not funded with assets, it does not really serve a purpose.

Rather than being intimidated by trusts, Arkansas residents may instead want to obtain information about how to create them. Having this knowledge may allow them to feel more comfortable with using this estate planning tool. Plus, legal professionals can help interested parties ensure that they fully understand how this option could help them achieve certain planning goals and ensure that they are created correctly.

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