Irrevocable Family Trust

Michael Jackson's Estate Illustrates Importance of Creating the Right Type of Trust

We have previously discussed how important it is to set up a Family Trust to protect your assets and legacy for your heirs. However, choosing the type of trust to create is equally as important, as the heirs to pop superstar Michael Jackson’s estate are finding out. As with other deceased celebrities, such as Jimi…

Illustration by Mathieu CHAINE courtesy of Wikipedia under the Creative Commons Attribution-Share Alike 3.0 Unported license.

A family trust is usually intended to either honor and/or provide for family. Nearly every kind of trust that does not have a charity and non-family members as beneficiaries is considered a "family trust" of some kind. A family trust anticipates a connection with others that is usually blood-based. But when one drills down more…