Posted by NY 986 on December 16, 2018 at 14:17:41 from (184.53.48.198):
In Reply to: Re: Sad to see it go posted by nrowles on December 16, 2018 at 13:46:48:
A trust does not mean it is held for the benefit of one person or depending on the state's laws any human being. If the money is there for property taxes and insurance then in theory a trust could out live any living people in the family. All it requires is money saved or a revenue generator. I could care less about whether you want it for yourself or not. It seems to me even before this thread came along that a trust either should be or not be a vehicle to preserve assets. But the reality is that since setting up and executing trusts is good business for lawyers and many lawyers are politicians trusts are not going away. So at that point is a person a fool for not using one when a person's presumed competition in a business such as farming is using to gain a huge advantage as they are not paying thousands or millions of dollars to gain an asset?
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