If you are planning for your future and are ready to make decisions regarding your assets, then a trust is an essential tool. A trust is a legal document. It is usually the key document in an estate plan.
Why Choose a Trust?
Assets in a trust avoid probate. The probate process can mean fees, time, energy and headaches for your beneficiaries. It involves filing several legal documents and deadlines that may need to be met.
A trust also lets you control how your money will be distributed. You can 1) set up age requirements for when kids should receive distributions of your money; 2) name who should receive the money if your first line of beneficiaries passes away; and 3) write in terms of distribution for a loved one with addiction issues.
The process of distributing assets is generally quicker and easier with a trust. Your loved ones will undoubtedly appreciate your thoughtful planning.
Who is Involved in the Trust Creation Process?
A trust maker is you. It is an individual or married couple who creates the trust and comes up with the specific terms. Other names for a trust maker are settlor, grantor and trustor.
A beneficiary of a trust is a person or charity that will benefit from the trust. The trust is for the beneficiary’s benefit.
A lawyer who will work together with you to put together a trust that meets your family’s unique needs.
Why Go With a Revocable Trust?
The beauty of a revocable trust is that you can change it as often as you want. Since life changes all of the time, it’s nice to know your trust can change as well.
Where Do I Go From Here?
If you’ve decided you want to create a trust, contact the Law Offices of Paula Hannah, PLC, a knowledgeable and experienced estate planning attorney. Sue’s mission is to make the estate planning process as unintimidating and understandable as possible. Documents are written in plain English, not legalese. Appointments are casual and not rushed. Working together, you and Sue will make sure your family is protected.