Many people like the idea of setting up a trust but simply don’t know where to begin. Broadly speaking, these are the steps you’ll need to take to establish a trust:

• Decide what you want the trust for (this will determine the type of trust you choose)
• Seek out qualified advice
• Register the trust with the Internal Revenue Service
• Transfer assets into the trust
• Administer the trust in accordance with the trust’s legal guidelines

In most cases, especially if you are new to trusts, you’ll want to partner with a qualified professional. One of our estate planning attorneys will help you get one set up that covers your specific situation.