PREPARING A TRUST
Leaving your Legacy in Good Hands
Planning with a Trust
A Trust is a private document that establishes instructions for management and the transfer of property, both during incapacity and death. This document is drafted in much more detail than a Will and is used most often to convey estate assets privately, without the involvement of Probate Court.
TRUST ADMINISTRATION
How does a Trust work?
After a Trust is drafted and signed, the people who wrote the Trust (the Grantors) must change the ownership of most of their property/accounts into the name of the Trust in order for those rules and protections to apply. Some assets should be transferred immediately – typically bank accounts and real estate. Other assets would be transferred at the time of the Grantor’s death through beneficiary designation – most often those would be proceeds from Life Insurance Policies and Retirement Accounts.
TRUST PLANNING CONSULTATION
Creating a prosperous future for loved ones. Estate planning consultations are free, however, there is a fee charged for Elder Law, Probate and Trust Administration consultations.
Why Choose to Plan with a Trust?
There are many different types of Trusts. It is extremely important to discuss the plan and proper transfer of the property to the trust with the estate planning attorney. Each Trust is as individual as you are.
INCAPACITY DOCUMENTS
MOST COMMON REASONS FOR PREPARING A TRUST
- Avoiding the Probate Process
- Tax Planning
- Property Ownership in Multiple States
- Subsequent Marriages and Blended Families
- Non-Traditional Families
- Providing for an individual with disabilities
- Asset Protection
- Controlling distributions to minor children and young adults
- Protecting the beneficiaries from creditors’ claims and bankruptcy
- Protecting the beneficiaries’ share from divorce and judgement