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Trusts do not hide your assets from the IRS or government. The trust does hide assets in the sense that it gives you increased privacy from nosy people and from having to post ownership information online.

Short and sweet is usually best but it doesn't mean it shouldn't be distinctive. For example, ?Anderson Family Trust? is better than ?Anderson or the ?George St Holding Trust?.

The term "empty trust" refers to a trust document which was created and signed, but then nothing was ever transferred to the trust. No funding was done as we call it.

An irrevocable trust offers your assets the most protection from creditors and lawsuits.

Try a shorter name. It's generally in your best interest to go with a shorter name for your trust since the longer a name the higher the chance of misspellings or issues with abbreviations due to a lack of space on forms. In other words, ?Doe Family Trust dated 10/11/12? is preferable to ?John R. Doe and Jane U.

Things to Keep in Mind When Naming a Trust Try a shorter name. ... Decide if you want to keep it confidential. ... Ask yourself if confidentiality is actually important. ... Consider keeping your business separate. ... Always pay close attention to spelling and legal names.

Trust names are important to consider because in order for a trust to legally hold the assets or property, the trust has to be identifiable by its formal name. This name must be distinct and separate from your name.

Trust is also the 29,169th most frequent first name globally It is held by 28,300 people. This surname is most common in Nigeria, where it is held by 624 people, or 1 in 283,883.

Protects privacy better Because a will is a public document, anyone can get a copy of it after your death from the county records. But a living trust is totally private. With a trust, no one can know the details without the trustee sharing that information.

Decide which kind of trust you want. For maximum flexibility, a revocable trust is best because you can adjust it as many times as you like while you're alive. In general, irrevocable trusts are best for those who have extensive assets, since these trusts offer greater tax benefits and asset protection.