What are the benefits of setting up a trust?
An example of an AI chatbot conversation about the benefits of trusts.
What are the benefits of setting up a trust?
Setting up a trust can provide several benefits, including asset protection, tax advantages, and avoiding probate.
Can you explain how a trust helps with asset protection?
A trust can protect your assets from creditors and legal claims, ensuring they are distributed according to your wishes.
What types of trusts are there?
There are several types of trusts, including revocable trusts, irrevocable trusts, and special needs trusts, each serving different purposes.
How does a trust help in estate planning?
A trust helps in estate planning by allowing you to specify how and when your assets are distributed, minimizing taxes and legal complications.
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