Trusts

Proverbs 13:22. ‘A good person leaves an inheritance for their children’s children.’

Definition: A revocable living trust is an estate planning tool to determine who will get your property when you die. You can change them as your circumstances or wishes change and you make them during your lifetime.

I. A trust is a basket containing your assets:
A. Home
B. Bank accounts, portfolios
C. Business
D. Anything you place in it

II. You give directions as to where assets in the basket go
A. Changeable as life seasons and people change
B. Biblical: you are directing what God has loaned to you
C. Private
D. Credit protection
E. Guardianship for defendants
F. Reduced estate taxes

III. Review and change every five years.