Many people do not understand the basics of how trusts work and assume that these are only applicable to high net worth individuals, businesses, or children of very wealthy heirs. While this is certainly true in some situations, there are also some circumstances where a trust fund may become an integral part of your overall estate planning. Your trust allows a third-party entity known as a trustee to hold assets on behalf of beneficiaries or a beneficiary. 
There are three primary parties that make up a trust: the trustee, the person responsible for managing the asset or property until it is transferred, the trust maker, the person who puts together the document and tool and the beneficiary who is the entity that will receive the benefits left behind for them.
A trust can be extremely useful when a grown adult child may not be able to handle a large sum of money or when the family has a child with special needs. Putting the money inside a trust allows a trustee to distribute the funds within selective parameters and a time frame. It also protects any of those assets from judgements if a beneficiary becomes liable in divorce settlements or damages. It can be more easily accessed because money in a trust does not go through the court system. Hire a lawyer in Pasadena to help you with your trust.
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