A trust is a legal arrangement that allows you to place assets under the control of a trustee for the benefit of someone else. Instead of distributing assets outright, a trust provides structure, oversight, and long-term planning.
Trusts are often used to:
- Protect beneficiaries from creditors
- Provide for minor or incapacitated beneficiaries
- Preserve needs-based government benefits
- Control how and when inheritance is distributed
There are several types of trusts commonly used in estate planning, including living trusts created during your lifetime, testamentary trusts created through your Will, and both revocable and irrevocable trusts.
Not every estate plan requires a trust. The right approach depends on your assets, family dynamics, and long-term goals.
Working with an experienced estate planning attorney can help you determine whether a trust strengthens your overall plan and ensures your wishes are carried out as intended. Contact us today for help with your trust needs.
This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, specific tax, legal or accounting advice. We can only give specific advice upon consulting directly with you and reviewing your exact situation.
