How to Use Trusts for Long-Term Family Wealth Planning

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A trust can be a crucial tool in preserving wealth for future generations by allowing you to set rules on how assets are managed and distributed. By placing assets into a trust, you can minimize estate taxes, protect assets from creditors, and ensure that your heirs receive their inheritance according to your wishes, not court decisions. For instance, a properly structured trust can provide for a child's education, support a spouse for life, then pass remaining assets to grandchildren, all whil…