Trusts in a Will: Like a Safety Net for Your Loved Ones
Imagine you want to make sure your money is looked after and used wisely by your family after you're gone. A trust in your will is like giving your loved ones a safety net.
Here's how it works:
You choose someone you trust (like a family member or friend) to be in charge. This person is called the "trustee."
You leave instructions in your will about how your money should be used. Maybe you want to make sure your children's education is paid for, or that a family member with special needs is taken care of.
The trustee follows your instructions and manages the money wisely. They make sure your wishes are carried out and your loved ones are protected.
Why is this helpful?
It can protect your money from being misused or spent too quickly.
It can provide for your loved ones even if they're too young or unable to manage money themselves.
It gives you peace of mind knowing your wishes will be followed after you're gone.
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