Wealth Management Explained: Services, Fees, and Choosing a Manager

Online Financial Tools | Morgan Stanley

Wealth Management | Morgan Stanley

Revocable trusts are used primarily for legacy planning. They keep your affairs private. They avoid probate. They make sure your family does not end up in court fighting over assets. But if you are in a highly litigious career, a high net worth individual, or simply someone who is susceptible to lawsuits, legacy planning alone is not enough. You need a second layer. This is where irrevocable trusts come in. Most wealthy families have both because they serve two completely different purposes. You

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