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What is a trust - Hawaii Estate And Trust Fiduciary Services Back to the top

What is a trust?

A trust is a document that allows a third party (called the trustee) to hold assets in a "box" called the trust on behalf of any beneficiaries.

What are the benefits of preparing a trust?

  • Avoidance of Probate. A trust will help you avoid probate, which is a long court process in which the court controls the distribution of assets to the heirs.
  • Privacy. Because the content of a trust is private, it will not become a matter of public record, as it will be in the case of probate.
  • Being able to control your assets. You can take control of how and to whom your assets will be distributed by preparing a trust during your lifetime.

Conclusion

If you haven't prepared a trust yet, it may be a good idea to consider preparing one!

Article Source/Courtesy of: Yuka Hongo, Esq. (Hongo Law Office, LLLC)
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