Illinois Family Trusts — What Are They? | Learn About Law
We’ve discussed wills and trusts many times on Learn About Law, but within those two categories, there are many subcategories of estate planning options. One such option is the family trust. Read the full article here: https://www.oflaherty-law.com/learn-about-law/what-is-a-family-trust
A majority of us will eventually hit the point in our lives when we must decide what will become of our assets once we die. Enter estate planning and it’s many vehicles for asset and property transfers. One such option is the family trust, which is similar to a living trust but designed specifically with consideration for its long term impact on family members.
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In this video, we explain what is a family trusts and answer the following questions: what is a trust?, what is the difference between a family trust and a living trust?, how does a family trust work?, what are the benefits of a family trust?, and how do I set up a family trust?
