Thoughts on Trusts or other options

[Matthew T.]

I am looking to setup a trust to use to loan money to friends and family ( not a business venture ).  I have setup a meeting with my CPA and RE lawyer but I was hoping to hear what other people's thoughts were.

[Lance Lvovsky]

Are you merely setting up a Trust to make loans to others? Trusts are very powerful, generally recommended most people hold assets in a Trust. One of the more powerful features of a Trust is that any assets properly titled to a Trust will avoid probate.

With that being said, do you have a specific intention? Trusts pay income tax just like individuals if that's what you were wondering.