What Is A Living Trust vs. Just A Trust?
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The fact is that there is a lot of different financial vocabulary that gets thrown around when talking about estate planning. Some of it is used correctly, and some isn’t; this can make things hard to understand and to really be clear. To get the clearest picture and the clearest understanding, it is best to consult a professional. Someone who is a professional when it comes to estate planning is who you want to consult when you come upon any real questions you may have. Ian Filippini is a professional in estate planning. Ian Filippini is also a professional in wealth management. In this article, Ian Filippini will address a question that has been posed to him many times over the years; Ian Filippini and Filippini Financial Group, Inc. will give a brief description of what a trust is, and then to go further, what a living trust is.
Ian Filippini and Filippini Financial Group, Inc. say that it is important to first understand what a trust is. For some people, says Ian Filippini, this can be a little hard to grasp if they have never heard of it before. Ian Filippini says that a trust is an entity where one person is legally in charge and has control of another person’s property. Ian Filippini says that you can in fact be the trustee and beneficiary of a trust. Ian Filippini says that there are many financial benefits to creating a trust, even if it is in your own name. Ian Filippini and Filippini Financial Group, Inc. asserts that there are too many to list here and that you should consult your estate planning professional to determine any financial benefits may apply to you, if you create a trust.
Ian Filippini and Filippini Financial Group, Inc. say that a living trust is just a trust that is created while you are alive, versus after you are dead.
Alfred Filippini (Ian Filippini and Alex Filippini’s late father) was the original founder of Filippini Financial Group, Inc. Ian Filippini’s Mother is still alive and living in the Santa Barbara area Filippini Financial Group, Inc. and Ian Filippini are situated in the Santa Barbara area as well. Ian Filippini and Filippini Financial Group, Inc. will definitely take the time to understand and execute their clients goals and last wishes.
Filippini Financial Group, Inc.is lot a law firm. Ian Filippini is not an attorney and is not licensed to practice law. Ian Filippini and Filippini Financial Group, Inc. recommend that you consult a licensed attorney to address any legal concerns or questions you may come across.