Fairfield County Living Trust Lawyer
Living Trusts Attorney in New Haven, Fairfield, Stamford, Westport, Greenwich,
Darien, Trumbull & Milford
A living trust is also known as a
revocable trust. It can be used to provide for your incapacity, and to take care of your
loved ones the way YOU want them to be taken care of both during incapacity
and when you pass away. It can also be used to provide for adult children
who you wish to have payments instead of receiving the whole payment at
once. Of course avoidance of probate is another reason for utilizing a
living trust. By avoiding probate, you get to keep your business private,
and bypass delays associated with the probate court process. You are urged
to contact a Fairfield County estate planning attorney to assist in preparing
a living trust.
Setting up a Living Trust in Fairfield or New Haven County
The first step is to set up a revocable trust with yourself as the trustee
and trusted person(s) as secondary and/or distribution trustee(s) (the
latter can be named later in the process). While you are still living
and doing well, you can spend the money freely. If you become incapacitated,
however, your secondary trustee can take over and start paying your bills,
taking care of your dependents and doing your business in the manner you
directed in your trust document.
Should you die, your secondary trustee continues with their duties as instructed.
The money does not go through probate, which saves considerable probate
costs. Your business is also kept private as there is no public record
of the trust.
The trust instructions can provide for minor children or adult children
for as long as you direct. This is of particular benefit when you have
an adult child who you are concerned about, whether in spending habits
or other situation. A distribution trustee can be appointed for the sole
purpose of making distributions of property, which if accompanied by proper
planning ahead of time can be very beneficial when it comes to protecting
your assets and loved ones from creditors. Your trustee can also be instructed
to provide the adult child payments (instead of a lump-sum) to allow the
money to provide for them over a longer period of time.
Living Trust Lawyer in Fairfield, New Haven, Stamford & Westport
Massih Law, LLC, I prepare living trusts for clients throughout Fairfield County and New
Haven County including, but not limited to, Greenwich, Stamford, Darien,
Westport, Fairfield, Trumbull, New Haven and Milford. When a client meets
with me, I am very interested in their wishes, and what their intentions
are, and how to create an estate plan that fulfills these wishes.
I prepare living trusts to help clients provide for their incapacity,
and to take care of and protect the needs and interests of their loved
ones while avoiding probate costs to the greatest extent possible. I would
be pleased to meet with you to discuss your situation and help you determine
the best course of action.
Contact a living trust lawyer at the firm
for a consultation about living trusts.