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Put your trust in trusts. (estate planning)
From: Kiplinger's Personal Finance Magazine
Date: 19950801
Author:Roha, Ronaleen R.
Parents can ensure the welfare of their children by placing money in trusts. Trusts allow grantors to dictate how the money is to be spent after their deaths. Trusts can be used to set up funds for children from a first marriage or for charities. Other uses are described.
"PUT NOT YOUR trust in money, but put your money in trust." Oliver Wendell Holmes was onto something when he wrote that line more than 130 years ago. Although they sound highfalutin, trusts aren't just for the Rolls-Royce crowd. Do you have young children or elderly parents? Do you own life insurance? Are you remarried? ...
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