When there is an estate and the assets need to be transferred to other parties after the owner of the estate has passed away, the estate will usually go through a probate process. Sometimes, the probate process is not necessary because the assets have been placed in a trust. There are several reasons why you might want to avoid the probate process by hiring a trust attorney.
The Benefits of a Trust
Avoiding the probate process can help you reduce the amount of work that your family needs to do when settling your affairs. When you have a trust in place, you will be able to reduce the amount of taxes that your family members will need to pay. However, if you plan a trust, you will want to contact an attorney first.
The Role of Your Trust Attorney
An attorney will allow you to create an effective plan that will help you protect your assets. The assets will be distributed to your beneficiaries in the way that you intend. Depending on the type of trust you create, you will be able to increase the number of benefits that each of your loved ones receives. You will also be better able to protect your assets against lawsuits and taxes.
You Are in Control
Your attorney will begin by discussing your needs and the unique obstacles you might encounter. For example, you might have a family member who is not able to take care of themselves and this will need to be taken into account when creating the trust. You will need to determine what accommodations need to be made for your loved one.
It's Easy to Make Mistakes with a Trust
A trust is a document you will want to get right because they are very complicated and expensive. Failing to create a trust properly will lead to the trust not being considered valid and your estate might go through probate anyway. An attorney will be able to create the documents for you.
A Trust is Often the Best Option
However, when you are able to write the trust with the help of a trust attorney, you will have more control over what happens to your assets and to your family members after you pass away. You do not have to worry about a will being disputed or the courts making a decision that could lead to an outcome that you did not intend.
For more information, contact a trust attorney in your area.Share
16 May 2022