Aren't trusts just for the wealthy?

Nutley, New Jersey estate planning and probate attorney, Brad Micklin, talks about whether or not trusts are just for the wealthy.

Contact Brad Micklin

Email: [email protected]

Phone: 973-562-0100

Transcript:

A lot of people ask if trusts are just for the wealthy and my answer always is no. I actually did a webinar on my website at micklinlawgroup.com going deeply into that kind of question. But trusts are helpful to anybody that has assets and close family or friends that they want to ensure not only receive their assets but that they avoid significant costs and hassles of the probate process all of which are eliminated by using a trust. So there’s no requirement that there be substantial assets at all.