Investors and others with many assets who are creating an estate plan may need to use trusts to protect those assets. This can be important because without effective estate planning, as much as half of an estate’s value may be lost to taxes when assets pass to beneficiaries.
It may be best to work with a professional to create an estate plan and trust to avoid errors. One common mistake is failing to fund the trust. After creating the trust document, it is necessary to title the assets in a way that makes them the property of the trust.
