Trusts

A Trust is a mechanism that, like a Will, can be used to make it known exactly who is inherit from you at your death. Unlike a Will, however, a Trust does not have to be probated.  It enables you to put conditions on how certain assets are to be distributed at your death.  It can also provide a very specific plan as to how your assets are to be used to care for you, your spouse, and/or your children (including minor children) should you become unable to tend to your business. In this sense, a Trust not only plays a critical role at your death, but it can also play a vital role in ensuring your and your family’s well-being while you’re alive, but incapacitated. As a parent, Trusts are critical insofar as management of money for children not yet old enough to inherit outright.  And perhaps best of all, a Trust can allow for your estate to skip probate entirely!  Just signing/executing a Trust Agreement, however, is not enough. Initial and continued trust-funding is crucial.  While I cannot accept responsibility for trust-funding, all of my clients know they can contact me in the future regarding such matters, and usually at no additional cost.