Jerry explains what trusts can do: run a business, hold real estate or cash, pay for medical care and education, protect assets from creditors and lawsuits, avoid probate, and cut taxes. A trust can accomplish virtually any lawful purpose.
People often say things to me like, "Hey, Jerry," and I'll say something clever back like, "Yeah?" And then they'll say, "You talk a lot about trust, but what good is a trust anyway?" And of course, then I'll say something like, "Well, did you know a trust can run a business, pay medical bills, provide for minors, elderly, create a scholarship fund, provide for retirement, education, marriage, or even divorce, hold real estate, cash, securities, or any other kind of property, protect against creditors and lawsuits. It can avoid probate, save taxes. Trust can do pretty much anything except something illegal."
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