As you go through your journey in the pursuit of your dream, you finally arrived. But what is next? We now must learn how to hold on to our dream. We must learn what it takes to protected it. Let's look at taking your dream and use a will, a trust, creating some form of estate planning. How do you think wealthy people protect their assets. Just like protecting your ideas you need a nondisclosure agreement, when you buy a house you need some kind of contract to show ownership. You need some legal instructions to protect what you work so hard for. This is where you should get some legal advise. Lawyers are not always to help your butt from going to jail. But to help protect you and your family to save your hard earned assets. To give direction when you can't speak for yourself. We will try to get a better understanding of these tools to help you.A trust for starter is What Assets Can You Put Into a Trust? A Trust is a legal fiduciary arrangement that allows you to set up your assets to be held and managed by a third party. This party is known as a Trustee, and the person or firm you appoint to this role will be responsible for ensuring that your estate is handled in the manner you’ve outlined. 

The Smith Taire Legal team can help you build a trust that includes the correct assets according to the law. The assets you should put into a trust include the following:

Tangible personal property like artwork, furniture, a doll collection, sports collectibles, and more

Cryptocurrency

Limited liability companies (LLCs)

Insurance policies

Bank accounts: savings, checking, safe deposit boxes, money markets, certificates of deposit (CDs), mutual funds, and brokerage accounts.

Bonds, stocks, and other investments

Real estate property

Types of Trusts Available

There are multiple types of trusts available to protect your assets. Be sure to talk with your Georgia estate planning attorney about which type of trust is best for your assets. However, the various types of trusts typically fall into one of two categories: revocable trust and irrevocable trust. A revocable trust gives you the ability to change the terms of the trust whenever you choose. An irrevocable trust cannot be dissolved or changed at any time.

The Benefits of Creating a Trust

There are many benefits to creating a trust, including the following;

Maintain privacy by avoiding probate, which is part of the public record

Protect your beneficiaries

Provide money for children who have special needs

Maximize the flexibility of the trust

Preserve the wealth of your family

Promote your family’s values

Reduce or avoid conflict within the family at the time of your death