Trusts Explained

Not many people run into trusts on a daily basis. We talk a lot about different kinds of trusts on this channel, but perhaps we've been taking for granted that everyone knows what a "trust" actually is. In today's video we talk about what a trust actually is and break down trusts into three categories: (1) Revocable Inter Vivos (living), (2) Irrevocable Inter Vivos, and (3) Irrevocable Non-Inter Vivos. Each kind of trust has characteristics that are unique to its structure and establish what kind of tool they are in estate planning and asset protection.