Vital Reasons To Hire An Experienced Trust Attorney For Your Estate
You may want to leave a certain amount of your wealth to designated friends and family members after you are gone. However, you want to spare your beneficiaries a significant tax burden. You also may want to lower the tax burden of your estate and keep as much money in it as possible.
With that, you may need to retain a lawyer who can provide advice about how to accomplish these goals. You can benefit from having an experienced trust attorney on retainer before you begin to lay out final plans for your estate.
Deciding on the Kind of Trust
You may be aware that numerous kinds of trusts are available to you. You also may be unsure of what one is the best choice for your estate.
When you have an experienced trust attorney on retainer, you can find out about the various kinds of trusts. You can decide what one best aligns with your estate planning needs and can protect the wealth you want to leave to your friends and family members.
Help with Establishing the Trust
After you decide what kind of trust to use, you may then need help setting it up and ensuring it functions as you need it. Your trust attorney can file the appropriate legal papers and set up the trust on your behalf. Your lawyer can ensure the trust meets the legal definitions in your state.
Your lawyer can also advise you about how to fund the trust so it serves your estate well. He or she can also provide advice about how to move money around in your trust, if needed, to keep your tax burden as low as possible.
Selecting a Trustee
Finally, your trust attorney can advise you about how to select a trustee for your trust. You may need help choosing someone to whom you can entrust it. You also may need to ensure this person knows the laws for the trust and can protect the funds in it. Your trust attorney may advise you on someone in your circle of friends or family to select for this purpose.
A trust attorney provides numerous helpful services as you lay out plans for your estate. Your lawyer can advise you on what kind of trust to choose for your estate. He or she can also help you set up the trust and ensure its legality. Your attorney likewise can help you select a trustee for it.