Stephen Waltar from Legacy Estate Planning in Bellvue discusses trusts. He said he likes the phrase, “Don’t put your trust in money, put your money in trust.” There are many kinds of trusts. It’s like a tube of toothpaste. If you squeeze the toothpaste out, anyone can get it: their creditors, the state, and you can’t get that toothpaste back in the tube. Instead, put it in a container, a trust for the benefit of someone. The difference between a will and a trust is this: if you hire an architect and they draw up blueprints, does that build the home? A will is a blueprint, it doesn’t do anything until after your passing.
