Trusts
A tool that just about anyone can use to achieve worthwhile financial goals.
What is a Trust?
A trust is a legal arrangement that allows you to transfer your assets to a trustee, who will manage them on behalf of your beneficiaries. Trusts can be an important component of your estate plan, as they can help you achieve a variety of goals, such as avoiding probate, minimizing taxes, and providing for your loved ones after you pass away.
There are many different types of trusts, each with their own unique features and benefits.
Irrevocable Trusts
These trusts cannot be changed or revoked once they are established. They can be used to reduce estate taxes and protect assets from creditors.
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Pet Trusts
These trusts help your pet receive the care they need when you cannot provide it. Our goal is to not only protect your pet, but provide you with the peace of mind you deserve.
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Revocable Living Trusts
These trusts are created during your lifetime and can be changed or revoked at any time. They allow you to transfer assets to your beneficiaries without going through probate, which can save time and money.
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CharitableTrusts
These trusts allow you to make charitable donations while also providing tax benefits for you and your heirs.
Special NeedsTrusts
These trusts are designed to provide for individuals with disabilities without jeopardizing their eligibility for government benefits.
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When creating a trust, it is important to work with an experienced estate planning attorney who can help you identify the type of trust that is best suited to your needs and goals. They can also help you identify potential issues and develop solutions to avoid disputes among your beneficiaries.
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In addition to establishing the trust, you will also need to fund it by transferring your assets into the trust. This can be a complex process, and it is important to ensure that your assets are properly titled and transferred in accordance with the terms of the trust.
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With a well-crafted trust in place, you can have peace of mind knowing that your assets will be managed and distributed according to your wishes. Don’t wait- contact our experienced estate planning attorney today to get started on your trust and protect your legacy.