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Parents wishing to delay delivery of assets to their children beyond age twenty-five can do so by setting up a trust. A common misconception is that trusts are only for the ultra-wealthy. A trust can provide numerous benefits beyond simply delaying the age at which children receive assets.
This brief article provides an accurate summary of the terminology used for Corporations and LLCs in today's legal world which should help the reader have a better understanding of who's who in the entity of choice.