There are numerous benefits of setting up a family trust. This document allows you to re-title major assets while still alive in such a way that allows you to keep control over them until you pass away, upon which they would pass to the beneficiary of your trust, avoiding the expensive and timely process of probate. However, if you don’t take the time to work with a reputable company in setting up a Phoenix, Arizona family trust, then you might find that your entire estate in jeopardy.
To start, if the family trust Phoenix, Arizona is set up improperly, then the assets titled into it might be yours rather than the trusts’, which negate the entire purpose of the document. Moreover, you could be penalized for having those assets still in your possession, which could cost you considerably, in a financial sense. Additionally, if you don’t have it set up right, you run the risk of leaving yourself open to legal issues, even family members sue one another when money is involved – and these issues can be costly to resolve properly. Avoid this by working with a company like Family First Corporate and Estate Services to ensure that your Phoenix, Arizona family trust is set up properly and maintained as such.
“by Kandice Linwright” at Google
Summary:
There are numerous benefits of setting up a family trust.
To start, if the family trust Phoenix, Arizona is set up improperly, then the assets titled into it might be yours rather than the trusts’, which negate the entire purpose of the document.
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