Description :

A trust is traditionally used for minimizing estate taxes and can offer other benefits as part of a well crafted estate plan a trust is a fiduciary arrangement that allows a third party or trustee to hold assets on behalf of a beneficiary or beneficiaries. The advantages of placing your house in a trust include avoiding probate court saving on estate taxes and possibly protecting your home from certain creditors disadvantages include the cost of. A trust is a legal arrangement between two parties the trustee and the trustor sometimes also called the settlor or the grantor the trustor is the person who establishes the trust and transfers assets into it the trustee is the person or entity responsible for managing those assets according to the wishes of the trustor. In this way homestead preserves the communitys investment of public and private resources and makes each home in our trust permanently affordable dual ownership homestead protects the communitys long term interests by separating the ownership of land from the ownership of the home homeowners own their homes and other improvements and