Stat Trust
What is a Stat Trust and should I use one if I am a widow to protect my money from my estate?
Terry Says
Someone is trying to sell you something! Beware. I assume you are referring to a Delaware Statutory Trust (sometimes called a “stat trust”) which is typically used in structuring commercial property investments.
Stay away from whomever is talking to you about this kind of trust. But you DO need a Revocable Living Trust — the better version of a will.
To understand how a Revocable Living Trust works, watch this video:
https://www.terrysavage.com/wp-content/uploads/2022/10/Terry-Talks-Wills-Trusts-Estate-Planning.mp4
You need an estate planning attorney to draw up a Revocable Living Trust, and then retitle your home in the name of the trust. Ask your local bank for a reference to an attorney who specializes in estate planning. Or search for one near you here: https://search-attorneys.com/
