Trusts

A “Trust” is a catchall word for dozens of somewhat similar documents. One basic function of a trust is to protect assets (yours) from taxation or seizure by federal or state authorities. Another reason for creating a trust, is to protect your assets from being squandered by a financially irresponsible heir after you pass away. Most trusts are created when a settlor (you) place titled assets (real estate, bank accounts, retirement funds, etc.) into a legal entity known as a Revocable Trust or an Irrevocable Trust. The assets placed in a trust are thereafter used by you in the manner you have established in the trust, and upon some future event, usually the death of the settlor, the assets will then pass to the persons or institutions you have named in the trust. This ensures that your assets will only be used in the manner you have instructed while minimizing the possibility of taxation or seizure. Needles to say, a trust should only be created by a qualified attorney. Peter Ensign and his paralegals, James Robinson and Taylor Ensign, have provided many families with peace of mind by creating a customized trust that protects their wealth.