Trusts Lawyers in Chapel Hill Helping You Create a Trust That Fits Your Needs
When putting together an estate plan, creating a trust may be one of the most important aspects you should consider. With so many benefits, ranging from tax reductions to a smoother process for your family following your death, it is no wonder many of our clients are curious about how a trust can optimize your assets and estate, all while protecting it in the process. Contact our team of trusts lawyers as soon as possible to learn more about the different types of trusts available to you and see which ones are right for you.
What is a Trust?
Simply put, a trust is a legal document that combines, structures, and reorganizes your assets in order to maximize the benefits you and your family can receive. In many cases, trusts are formed to make the distribution of assets following your death easier by skipping the potentially long and stressful process of probate. In your trust, you can dictate the terms of how you want your assets to be distributed and when. For example, you may want to leave an inheritance to your grandchild but he’s too young to receive it now. You may set a stipulation that dictates your grandchild will receive their inheritance at a certain age. Utilizing a trust can also allow you to reduce certain taxes you have to pay on property which can keep more money in your pocket. Let our law firm know how we can help you if you are interested in putting together a trust that fits your needs.
What is a Trustee?
The trustee for your trust has a great deal of pressure and responsibility on their shoulders, particularly after you pass away. Having a designated trustee to handle your trust and estate following your death is a critical component to creating a trust. Once the time comes to divide the estate’s properties to the rightful beneficiaries, a trustee’s job is to represent the trust to the best of their abilities, ensuring that every beneficiary gets what you may have specified as part of your trust. A trustee is also responsible for paying any outstanding debts or taxes after you have passed away. The management of a trust is a critical duty that can make life easier for your family following your death. When deciding who you should choose to be your trustee, you should consider someone you can trust to meet that call of duty so that your wishes are carried out even after you have passed away. Our team of skilled trusts lawyers can work with you to ensure you
What Kinds of Trusts Can a Lawyer Help Me Set Up?
There are several different kinds of trusts to pick from. Each form of trust can serve a distinct function. Determining which trust is best suited for you may require a consultation with one of our trusts attorneys. The following are a few of the more popular kinds of trusts among our clients:
- Asset Protection Trusts
- Special Needs Trusts
- Life Insurance Trusts
- Living Trusts
- Revocable Trusts
- Irrevocable Trusts
Our law location will make certain that you are aware of all trusts that could be beneficial to you and your families. Consult one of our estate planning lawyers today to see how a trust can optimize your estate and the assets within it and ensure a more promising future for you and your family.
Is a Trusts Attorney Worth It?
Trusts can be a life-changing legal tool that can provide your family with the support they need to prosper in the future. Some trusts are even designed to maximize the care of your family and minimize the liabilities your family has to deal with in regard to the assets you leave behind. Whether you have a sprawling estate with multiple beneficiaries or a modest estate with a handful of family members you want to protect, we can help you put together a trust that works for your needs. We provide quality, personalized service that will make you feel right at home. Let us protect your future and help you create the trust you need to thrive today and tomorrow. Contact Thomas-Walters, PLLC today by calling (919) 424-8277 and schedule a free consultation.