Trusts are used for personal planning and hold personal assets. Business entities such as corporations, partnerships, and limited liability companies hold business assets. Many families own a rental property but fail to view the rental house as a business asset because they do not view themselves as operating a business. This is unfortunate because business entities offer many advantages, which Darol discusses in this episode.

Trusts are similar to limited liability companies because the trust is able to protect assets if drafted correctly. Learn the two most important benefits of trusts that hold your family's wealth.