We often receive questions from clients about whether they should have a trust. While the reasons vary, they most often pertain to earmarking money for children or grandchildren, protecting money if they end up in a nursing home or leaving money to charity. The reality is trusts are very complex and there are legal costs associated with them. Furthermore, there are guidelines to follow that often leave the funder with less control over his or her own money.

For that reason, we recently sat down with Attorney Scott Lynett of Legacy Planning. Scott joined us to discuss the basics of trusts and estate planning to help listeners understand this very complicated topic.