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Common questions, answered simply.
Do I need a lot of money to set up a trust?
No. A simple revocable trust is a plan for anyone. It’s about avoiding probate and protecting your family, not your net worth. An irrevocable trust provides asset protection and tax benefits that compound over time.
I already have a will. Do I still need a trust?
Yes. A will still goes through probate, the public court process. A revocable trust skips it, keeps things private, and passes straight to the people you name. The two work together: the will is the backstop, the trust does the real work.
Don’t my beneficiary designations already handle this?
Partly. Accounts with a named beneficiary (401(k), IRA, life insurance, TOD/POD) do pass directly, which is good. But they don’t cover your house, they don’t help if you’re alive but incapacitated, and they can’t manage money for a young child. A trust ties it all together and covers the gaps those designations leave.
What trust protects me from lawsuits, creditors, and/or divorce?
Real asset protection comes from irrevocable structures. Veros provides a signed revocable trust for probate avoidance, AND an irrevocable structure for you (for the same one-time, $1,499 fee).
Am I locking my assets up?
No. With a revocable trust, your assets stay fully accessible and yours. With an irrevocable trust you do move assets out of your estate (that’s what unlocks the protection and tax benefits), but you can still receive distributions if you name yourself or your family as beneficiaries.
Can I change it later?
Yes, for a revocable trust you change it yourself with attorney approval. For an irrevocable trust, you ask your trustee to make a change and they will make it for you.
Why South Dakota, and does it matter where I live?
You don’t have to live in South Dakota to have a trust there, and most of our clients don’t. SD simply has the best trust laws in the country: strong privacy (records are sealed from public view), no state income tax on what the trust holds, and rules that let a trust last for generations. Individually small, together they make it the best home for a trust, and it matters more as your structure grows.
How long does it take?
About an afternoon. Funding (retitling your assets into the trust) can trail a little after, and we walk you through every step so it actually gets done.
Is this legal advice? Are you my lawyer? Couldn’t I just ask ChatGPT?
The platform isn’t your lawyer, and we won’t pretend it is. But you do get a licensed South Dakota trust officer you can reach with real questions. The difference from a chatbot: we don’t just answer questions, we produce the actual trust, fund it, and keep it maintained. A chatbot can explain a trust. It can’t be the one that holds and runs yours.
What if Veros goes away?
Your trust is a legal document that belongs to you, held with a licensed, regulated South Dakota trust company. It stands on its own and keeps working regardless of what happens to Veros as a company.
What if most of my assets are abroad, or I’m not a U.S. citizen?
For now, Veros is the right fit if most of your assets are in the U.S. or you’re building a long-term future here. More international situations get more complex.
What if I have questions along the way?
We have dozens of professionals in our network if you have further questions or want to speak with an advisor for an hourly fee.