How to Use Trusts for Long-Term Family Wealth Planning

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Trusts can be a powerful tool for preserving family wealth across generations, but they work best when set up with clear intentions. You might place assets into a revocable living trust to avoid probate and maintain control during your lifetime, or use an irrevocable trust to protect those assets from creditors and estate taxes. By naming a trustee you trust and specifying how and when beneficiaries receive distributions—like funding education or covering health needs—you create a structure tha…