Tips for Creating a Trust

Best Trust Lawyer

Setting up a trust may have not been something you had considered when in the process of developing your estate plan. It’s important to know that even the middle class may find a trust to be useful when making plans for their heirs. A law firm has the the skills you need to assist in setting up a trust through the estate planning process. A trust can offer a number of financial benefits while also ensuring that it is utilized in the way you had intended.

#1. Inventory Your Assets

Prior to sitting down with a lawyer to create a trust, it’s a good idea to first inventory your assets  and locate key documents. This can help a law firm to obtain a clear picture of your estate when determining the best type of trust you should create.

#2. Consider Accounts with Beneficiary Designations

Accounts that already have beneficiary designations may not need to go into a trust account. One exception to this occurs in the case of minor children. Should this be the case, you may name the beneficiary as the trust that is set up. This allows you to distinguish how those assets should be administered through the trust.

#3. Put Thought into Your Trustee

Carefully consider who you would like to appoint as the trustee who will oversee the trust. While you are living, you will likely carry this responsibility. The person who takes over after you pass away should be someone who is trustworthy, responsible and willing to take on this role.

#4. Contact an Attorney

Contacting an attorney can help to demystify the process and reasons to create a trust. A law firm can provide you with services when considering whether a trust is the right step for you and your loved ones.  

Why Set Up a Trust?

When setting up a trust, you may have a variety of options. A law firm can help by reviewing your financial situations, your specific needs and educating you regarding the various types of available trusts. Based upon your needs we can help to efficiently set up the right trust for you. Trusts offer a variety of benefits such as:

  • Provide clear instruction for how you would like assets within the trust distributed
  • Safeguard assets for beneficiaries who may be unable to responsibly manage their inheritance
  • Quickly distribute assets to heirs after your passing
  • Avoid probate and the time and expense that can come with it
  • Ensure your wishes are carried out
  • Protection from creditors

With our services you can rest assured that you are working with a group of lawyers who can provide you with premier legal support when setting up a trust. We will:

  • Provide guidance in gathering the appropriate information regarding your assets
  • Review your specific needs and financial situation to identify the type of trust that may work best for you
  • Patiently assist you in making key decisions
  • Help you to efficiently create the trust account
  • Provide guidance to trustees
  • Ensure that you are able to take advantage of the benefits a trust can provide