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Can I create a Trust to help support other members of my family?

Yes, there are Support Trusts used to provide for the care of another, most often a parent or spouse, and Special Needs Trusts used to provide care for minor and adult children with disabilities.  These types of trusts are highly specialized but allow you to ensure that your money is used for their care in a manner that you see fit.  These types of trusts also can have significant tax advantages for the creator of the trust, called the Settlor.  These types of trusts are so specific in nature that general comments about them are impractical.

Frequently Asked Questions about Estate Planning