Will and Trust Planning

A will and trust is an important legal tool that can help you plan and manage your assets, ensuring that the distribution of your estate aligns with the well-being of your family members. Whether you need to create a personal will, establish a trust fund, or ensure the smooth handling of your estate after your passing, our team of professional will and trust attorneys will provide you with comprehensive legal support and solutions.

Our will and trust legal services encompass the following aspects:

Personal Will:

Drafting a personal will is a crucial step in ensuring that your assets are distributed according to your wishes. We will assist you in creating a clear, legally sound, and will that aligns with your intentions, ensuring the proper protection of your family and assets.

Trust Fund Creation:

Trust funds are legal structures that transfer assets to a trustee for management, with the purpose of distribution to beneficiaries under specific conditions. We will tailor a customized trust plan to safeguard the management and distribution of your estate based on your needs and goals.

Estate Tax Planning:
Estate taxes can have an impact on your estate after your passing. Our lawyers will help you devise estate tax planning strategies to minimize the tax burden, ensuring the smoother preservation of your estate.

Trust Management:
If you are designated as a trustee or are considering appointing one, we will provide legal guidance to ensure that the trust fund is managed in accordance with your intentions and legal requirements. Regardless of the size of your estate, we will offer you a personalized will and trust solution to ensure that your assets are protected and managed within a legal, fair, and effective framework.

Revocable Family Trust

A revocable family trust is a flexible legal tool that offers the following advantages:

Asset Management Control: As the grantor, you can continue to manage the assets within the trust, ensuring that your financial affairs align with your intentions.

Avoidance of Probate Court Proceedings: A revocable family trust helps avoid complex probate court procedures, expediting asset distribution and protecting your privacy.

Estate Planning: The trust allows you to clearly define the asset distribution process, ensuring fair treatment for your family members and beneficiaries.

Financial Flexibility: You can modify or revoke the trust at any time to accommodate life changes and new financial goals.

We offer comprehensive revocable family trust services, including but not limited to:

Trust Creation: We will work with you to create a customized revocable family trust based on your needs and goals.

Asset Funding: We will assist you in placing various types of assets (such as cash, real estate, investment accounts) into the trust to achieve estate planning objectives.

Trustee Designation: We will help you select and designate appropriate trustees to ensure effective trust management.

Legal Compliance: We will ensure that your revocable family trust complies with applicable laws and regulations to avoid potential legal issues.

Wills and Other Legal Documents: We can also assist you in drafting other legal documents, such as wills, healthcare directives, and financial powers of attorney, for comprehensive financial and legal planning.

Revocable Family Trust Documents:

Trust Agreement: The trust agreement is the core document for creating a revocable family trust. It outlines the trust's purpose, asset funding methods, trustee responsibilities, beneficiary rights, and trust management rules. The trust agreement typically specifies whether the trust is revocable or irrevocable.

Durable Power of Attorney: This legal document authorizes someone (typically the trustee) to handle financial matters on behalf of the grantor. In the context of a revocable family trust, the durable power of attorney is often used to manage financial affairs outside the trust for comprehensive financial management.

Will: Although a revocable family trust is used for asset management and succession, a will is typically still required. A will can specify the distribution of any assets not transferred into the trust to ensure the integrity of your estate.

Healthcare Power of Attorney: This legal document authorizes someone to make medical decisions on behalf of the grantor if the grantor is unable to express their wishes. In some cases, the healthcare power of attorney can also be coordinated with the family trust agreement to ensure alignment between medical decisions and financial arrangements.

Trust Amendment: If changes are needed to certain aspects of the trust, such as beneficiaries, trustees, or assets, a trust amendment can be used for modifications. Amendments must comply with legal requirements to ensure their validity.

Trust Revocation Declaration: If the grantor decides to revoke the revocable family trust, a trust revocation declaration can be used to formally dissolve the trust. This declaration typically needs to follow specific legal requirements.

Certificate of Trust: This simplified document is often used to prove the existence of the trust and the authority of the trustee without disclosing the specific content of the trust.

Irrevocable Family Trusts

Irrevocable family trusts are a trust form that is typically more challenging to change or revoke compared to revocable trusts. Below are the types of services we offer for irrevocable family trusts:

Irrevocable Life Insurance Trust (ILIT): ILIT is an irrevocable trust commonly used for estate tax planning. The trust holds one or more life insurance policies to provide an inheritance to beneficiaries and avoid estate taxes. Once created, ILITs are usually difficult to cancel or modify.

Gift Trust: A gift trust is used to transfer assets as gifts into the trust to reduce the gift giver's estate tax burden. Once assets are transferred to a gift trust, they are typically not retractable, ensuring the authenticity of the gifts.

Beneficiary-Controlled Trust: This is an irrevocable trust controlled by beneficiaries. Beneficiaries often have certain powers within the trust, such as controlling the distribution of assets or selecting trustees. This trust form can help beneficiaries retain some control but is generally challenging to revoke once established.

Charitable Remainder Trust (CRT): CRT is an irrevocable trust typically used for charitable purposes. The grantor places assets into the trust, and typically, the remaining assets after the trust's termination are donated to charitable organizations. This trust may offer certain tax advantages but is generally not cancellable or modifiable.

Medicaid Trust: A Medicaid trust is an irrevocable trust designed to help the grantor qualify for government Medicaid assistance programs. Once assets are placed into a Medicaid trust, they are usually non-revocable, with a waiting period required to meet Medicaid eligibility.