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Find Trust Law Lawyer

Trust Law

A trust is an agreement that establishes a relationship between two people: a trustor, sometimes called the grantor, and a trustee. Trusts are utilized by individuals to transfer assets from themselves to a final recipient, known as a beneficiary.

Bypassing The Probate Process

One of the main benefits of utilizing trusts is that a trust can bypass the probate process. The probate process accounts for the assets of a person who has passed. This process involves the use of a last will and testament, the division of assets, and payment of debts. Assets that are in a trust are held outside of the probate process and transfer directly to the beneficiary. All trusts can be broken into two categories: revocable and irrevocable trusts.

Revocable Trusts

Revocable trusts are the more flexible form of a trust. Revocable trusts can be altered or even terminated by the grantor right up until the grantor is incapacitated or dead. While revocable trusts are able to be changed, they can also sometimes be difficult to argue that the assets are distinct from the general assets that fall into the probate process.

Irrevocable Trusts

An irrevocable trust is the more rigid form of trust. An irrevocable trust is set in stone from the time that it is written and cannot be changed or revoked. However, assets in an irrevocable trust will always be counted as distinct from probate assets.

Planning For The Future

If you want to create a trust to enforce your wishes when you are not able to advocate for yourself, you will need the help of an experienced Trusts & Estates attorney. A Trusts & Estates attorney can ensure that your life plans are legally enforceable and airtight by utilizing their experience and mastery of the subject matter.

In order to achieve this best outcome, however, you will need an attorney who has the expertise and resources to take your case all the way. That’s why you should contact Attorney at Law. By partnering with AAL, you will be able to avoid slogging through the quagmire of unscrupulous lawyers looking to exploit your case.

At AAL, we only partner with the best firms in your area, helping you find the best attorney for your case. Don’t wait, contact AAL today to begin your journey to justice.

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Trust Law Frequently Asked Questions

1. What is a living trust?

A living will is a legally binding document that directs the family members and healthcare providers of an individual regarding the specific details for how to act in the event that the individual is unable to advocate for themselves. A living will usually triggers in the event that an individual is physically or mentally incapable of advocating for themselves.

2. Can I change my trust?

Whether or not a trust can be altered after it is created depends on the kind of trust created. A revocable trust can be altered and changed after its creation while an irrevocable trust is set in stone at the time of its implementation.

3. How much does it cost to make a trust?

Depending on the complexity and form of the trust being created, a trust can be more or less expensive. On average, the fees associated with creating a trust can range from $1,500 to $2,500. These fees can include filing costs, administrative fees, and the cost of an experienced trusts & estates attorney.

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