Trusts are incredibly flexible and useful estate planning tools. There are many kinds of trusts which serve a variety of different purposes, but perhaps none so important as that of the “minor trust”.
Coordinate Your Beneficiaries
Creating a will or trust is a vital part of anyone’s estate plan, but it’s not where the planning ends. Ensuring that the beneficiaries you’ve listed on 401Ks and other retirement accounts, insurance policies, annuities, etc., are coordinated with those estate planning documents is essential to the success of that plan.
