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Trust Protectors — What They Are And Why Probably Every Trust Should Have One

The concept of a “trust” is fundamentally very simple: One person holds legal title to an asset for another. If I transfer title of the family farm to you, and say, “Hold this land for the benefit of my family,” then a trust has been created.

Because the concept of the trust has expanded so greatly over the centuries, to where now large financial institutions often hold north of a billion dollars in trust, the concept has become daunting and lost its fundamental meaning for most folks. There are also myriad types of trusts: revocable and irrevocable trusts, grantor trusts, qualified trusts, lead trusts, life insurance and annuity trusts, unit trusts, and even the stupidly-named “intentionally defective trust”…

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