Adding More Hours to the Day

We have all needed extra help at one point or another.  For instance, we have called pizza delivery, the plumber, the babysitter, etc.   I recently had a client who needed more help at home, and we decided to set up a trust to free up her time.   A trust allows her to focus on priorities while someone else pays the bills, manages her investments, and does her taxes.  In situations like this one, regulated entities such as banks manage client affairs.  However, clients can maintain control and flexibility.  This allows them to end the trust if they no longer want the help.

I am sure you are thinking, "yes, that all sounds great for the rich and famous"… However, the fantastic part about this story is that my client was just an ordinary lady from small town America.  Many Americans can use trusts to leverage more time or to reduce responsibility.  The only real catch is that laws vary by state.  So you should meet with a local estate planning attorney before you get started. 

ABOUT TAWNYA TADDIKEN JOHNSON, J.D., M.A:  http://tawnyataddikenjohnsonlawyer.blogspot.com/2016/07/tawnya-taddiken-johnson.html
This post is written for educational purposes and does not create a lawyer client relationship.