oh and one more thing....trusts do not always mean when what you think...like billionaires jetting around.
Sometimes, they are a function of protecting assets from Medicaid, creditors, taxes, stock gains, etc and should be an important part of financial planning as one grows older
I’m well aware. Trusts should be used at any level of income as it protects and makes any transition in the case of death so much easier.
There’s a difference between the typical family trust, and one in which somebody has no control over.
Who would put their money in a trust where they don’t control the majority vote?