A trust can be an important part of a solid estate plan. To ensure you set it up correctly, you’ll need the assistance of a trust attorney. Trusts help you to protect your assets and set out who should get them if you die. When you hire an estate planning attorney from our firm, you’ll benefit from more than 80 years of combined experience in helping individuals to properly plan their estates.
We’ll discuss your specific circumstances when you schedule a consultation but it is helpful to have some basic information about trusts and how they work. Trusts typically involve financial assets and they can take several different forms depending on what you want to accomplish. Our trust attorney will explain the different options to you and help you choose the best one for your family.
When Do I Need a Living Trust Attorney?
In some circumstances, you may be advised to work with a living trust attorney. A living trust is a legal agreement designed to facilitate the easy transfer of assets without going through the complicated process of probate. Unlike a will, you can benefit from your assets while you are alive and they are only transferred to your beneficiaries when you die.
When you establish a living trust, the transfer of assets usually takes place within weeks rather than months or years, and the arrangement can remain private. Another advantage of a living trust is that it can save your estate money when you die, mainly because it doesn't need to go through probate. Trusts also make it easy for a named individual to take charge of your financial affairs as soon as you can no longer do so. However, it is important to know that a living trust will only control those assets that are transferred into the trust.
Generally, people with complex estates, multiple children, or significant assets benefit most from living trusts. However, there are many things to consider before you make a decision. A living trust attorney can help you determine whether a trust would be right for you.