There are many kinds of “trusts,” including the most basic one that takes effect upon the death of the person who sets up the trust. A trust fund can be established – and activated – while the “trustor” is still living, and this type of trust is typically a tool used legally to minimize tax exposures. GRAnderson Wealth Management Group can explain to you all the different kinds of trusts, and all their implications.
Since the investments in a trust fund can vary as much as an IRA or 401(k), for instance, it is important to talk to a professional such as the ones at GRAnderson Wealth Management Group, who can point you in the right direction (again, depending upon your goals for the trust fund), and who can find a reliable and skilled “trustee” to handle the fund.