Trust fund babies aren’t just born to millionaires and billionaires. They’re also sons and daughter of everyday people with a solid financial plan.
A trust enables ordinary people with ordinary money to be prudent with their property. People too often assume that their modest assets wouldn’t warrant the need for a trust. “But if you buy enough life insurance to provide for your spouse and kids, you’ve created an estate,” says Bill Hesch, CPA, Esq., “The trust would be used to hold the life insurance.”
