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Paul N. Mirabelli, Esq
3400 Hwy 35 S
Exec Plz, Suite 4
Hazlet, NJ 07730
(732) 733-2830
Trusts require assets to be set aside for a specific purpose, but how you fund them is up to you. Trusts are managed funds into which money is placed to be later distributed according to the rules set up during its creation. This can be done in many different ways, such as by liquidating assets and placing the money in the trust, or drafting a will to set aside a portion of your assets for a trust after your death.
Assets are usually placed into a trust during its creation, while some trusts can have assets added later there is no point in setting up a trust without initial funding.
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