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PUTTING YOUR TRUST IN TRUSTS?
06/26/2015

In a recent blog post, the CFP Board's Eleanor Blayney looks into whether setting up a trust makes sense as part of your estate plan. You may assume that trusts are just for the super rich, but having a lot of wealth is just one of many reasons why setting up a trust is a smart financial strategy. So how do you go about setting up a trust? First of all, you must decide if you want the trust to go into effect now, or at your death. Similarly, you can make the trust revocable, which allows you to change the provisions of the trust anytime, or irrevocable, which means its terms cannot be subsequently altered once it has been established. Many people create revocable living trusts to hold assets while they're alive. These trusts then become irrevocable upon their death. The purpose for doing this is to avoid the time and expense of probate, as well as to provide instructions for the management of their assets in the event they become incapacitated... HIGHLIGHTED EVENT: Are you an investor looking for an opportunity to learn from the best and brightest in the investing world? Attend the AAII 2015 Investor Conference ...

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Certified Financial Planner Board of Standards, Inc. (CFP Board) is non-profit organization based in Washington, D.C. that sets professional competency and ethics standards for personal financial planning. CFP Board owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements. Founded in 1985, CFP Board's mission is to benefit the public by granting the CFP® certification and upholding it as the recognized standard of excellence for personal financial planning.



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