BOZEMAN, Mont. (NMB) – Montana State University Extension educators say that trusts have gained more attention during the coronavirus pandemic as a tool to handle financial affairs.
However, trusts may not be the right choice for everyone, and individuals should learn the pros and cons of the different types available.
One option is a revocable living trust, which is a legal arrangement that shifts ownership of property or specific assets into legal ownership of the trust.
People should also consider whether there are other legal arrangements to achieve their goals, such as a financial power of attorney or written will.
More information about revocable living trusts is available on the MSU Extension website.
