WHO CREATES A TRUST?
Individuals can Start a Trust – Normally, the person that owns the asset would be the creator. However, a relative, a friend, or a company could easily be the creator. Anyone can create a trust…. But, a person that desires privacy, or a person that has a pending problem would not be the best individual to be the creator. Professionals can Start a Trust – A professional creator (attorneys, accountants, banks, financial advisors, or trust companies) may be far more effective as a creator, but they usually want to sell you insurance too. Each of the professional creators has various standard procedures and standardized documents to create a trust. Each creator may also have self-serving motives that are included. They usually have current forms, include better content and provisions, and include recent changes in the law. Many are universally compliant with the laws of other states and countries. Mostly, the professional creator has their own purpose as their goal. The trust is only sec