Fairfield County Trust Lawyer
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In a trust the person setting up the trust puts together a set of guidelines
that set forth who they want their property to go to, when they want it
to happen, and how they want it to happen. The person setting up the trust
puts the property in the trust into the hands of a trustee to use for
the benefit of beneficiaries (which may include the person setting up
the trust). There are a number of estate planning benefits including providing
for one's incapacity, saving on the costs of probate, providing for
children, protecting assets from creditors and predators, and achieving
tax advantages. To discuss how trusts can help you, contact a Fairfield
County estate planning lawyer.
Trusts can serve several purposes:
Providing for Incapacity : You can set up a revocable trust in which you put assets into a trust
with yourself as trustee and a trusted relative as successor trustee.
Since the trust is revocable and you are the trustee you still have access
to the funds. Should you become incapacitated, the successor trustee can
take over to provide for you and your dependents.
Saving on Probate costs: If you should die, the trustee or successor trustee can continue to manage
the trust as before. The assets in the trust are not subject to probate.
Trusts and Pour-Over Wills to Provide for Children: You can provide for children by setting up a trust with money to be doled
out by the trustee after you die. You do this with a revocable trust funded
during your lifetime. You can also fund the trust at your death with a
"pour over will" that designates assets be poured over into
Trusts and Pour-Over Wills for Tax Sheltering : Both spouses have an exemption from
estate taxes. By working together they can get the benefit of both exemptions for their
children by each having a trust for the children and a "pour over" will.
Trust Attorney in New Haven, Stamford & Westport
At Massih Law, LLC, I provide guidance on the creation of trusts to clients
throughout Fairfield County and New Haven County including, but not limited
to Greenwich, Stamford, Darien, Westport, Fairfield, Trumbull, New Haven
and Milford. I prepare trusts for clients along with pour-over wills to
help them provide for incapacity, care for and protect their children,
and shelter their estate from taxes. I invite you to meet with me to discuss
your estate plan so we can determine how best to maximize the benefit
of trust planning for you and your loved ones.
Contact a trust lawyer at the firm
to discuss how you can benefit from the creation of trusts.