Trusts

Trusts

While often more complex than wills, the basic premise for a trust is simple: a person (the “settlor”) places assets (money, property, stocks, etc) into a trust account which is managed by a second person ( the “trustee”) for the benefit of a third person (the “beneficiary”). While this seems simple enough, the different types of trust that can be created are numerous and there are certain rules that must be followed.
Trusts come in a variety of forms and are mostly exempt from the probate process. In some cases, you can begin transferring assets to a trust while you are still living. Trusts are also useful for young children and/or for family members whom you feel need guidance on how to manage the assets you leave for their benefit.

We draft and work with:

  • Revocable Trusts
  • Irrevocable Trusts
  • Special Needs Trusts
  • Spendthrift Trusts