Top Seven Reasons Why A Trust May Be Right for You | John Even

Top Seven Reasons Why A Trust May Be Right for You

Most people think that trusts are only for the Kennedys or the Rockefellers, or families like these, but not for them. However, there are lots of reasons why a trust may make sense for you and your family. Here are the top 7 reasons why you should consider a trust:

First, a revocable living trust can help certain families with estates valued at over $5.25 million avoid estate taxes and other taxes.

Second, a properly funded trust can help you and your family avoid a probate. In general, a trust administration is quicker, less costly, and more private than administering a will in a probate case.

Third, a trust avoids a conservatorship (a court proceeding to appoint someone to manage your finances if you are incapacitated) and works better than a financial power of attorney in the event of your incapacity.

Fourth, a trust gives you more flexibility in determining how distributions will be made to your children or other beneficiaries.

Fifth, a trust can help ensure that there is someone you trust managing your beneficiaries’ inheritance, especially if they are minors, have mental capacity issues, or have drug, alcohol, or bi-polar issues.

Sixth, a properly drafted trust with an up-to-date spendthrift provision can provide creditor protection for your beneficiaries.

Finally, a trust can provide a framework to manage your business or other properties in the event of your death or incapacity.

Call me today

John EvenOur firm has helped families just like yours handle a wide variety of estate planning, probate, and trust administration issues.  In particular, we have the experience in handling all different kinds of estate planning, probate, trust administration, guardianship, and conservatorship matters.  When families are not getting along, we can also help you to handle any disputes and litigation related to wills, trusts, guardianships, or conservatorships as well.  Please give me a call, so that I can help you work through these difficult issues with confidence.

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