Benefits of a trust
September 18, 2020
I’m Miriam Neff-with STARTING OVER FINANCIALLY, and I’m Valerie Neff Hogan, and we’re here to talk about money
M Scripture tells us in Proverbs 13: 22 that A good person leaves an inheritance for their children’s children. Working diligently and saving provides surplus. It’s biblical to pass that on to children and grandchildren.
V A popular tool to do just that is the Revokable Living trust It’s a legal entity that holds assets with trusts to form the estate when a person dies. Probate court costs can be avoided. Trusts can achieve several goals. The trust owns assets held for the beneficiaries, and is managed by the trustee.
M You might name charities, and your church as beneficiaries stating percent or set amounts to go to them. Remember, you can tithe with your trust. I’s a tool to honor God.