Newcomers to the real estate industry are often surprised by how many properties are held by trusts rather than individuals. People unfamiliar with trusts may avoid them, but since they’re a valuable estate planning tool, it’s important to understand how they work. In this video, Bill Bergschneider, President of USA National Title Company, explains trusts in a clear and useful way.
In particular, he describes the two main types of trusts, revocable and irrevocable, several types of trustees, and how the trustee roles differ depending on trust type. We hope that this video will help facilitate your trust-related conversations, whether they be with clients or your own estate planning professionals.