Trusts Lawyers in Raleigh Creating Trusts for You & Your Loved-Ones’ Needs

Utilizing all the tools available to you to ensure you and your family maximize the assets and care available to you in the short and long term can be incredibly beneficial. Setting up a trust can be a valuable tool that can protect your assets and your estate for many years to come. However, creating a trust isn’t as easy as you might think. With many kinds of trusts available for you to choose from, all with varying purposes, it is important to consider what is important to you. While creating a trust can save you and your family from unwanted stress and headaches in the future, putting one together can be difficult without the right estate planning lawyer by your side to help you. Give our law firm a call to talk with one of our estate planning attorneys today and discuss all the options available that can be personalized to fit your needs.

What Constitutes as a Trust?

A trust is essentially a legal tool that you can use to place conditions and rules on how your assets should be distributed and used. Assets such as real estate property, bank accounts, stocks, bonds, and even personal possessions like jewelry, automobiles, and works of art can all be considered assets. Putting all of these assets together in a trust gives you the right to dictate your beneficiaries should you pass away. You can even set stipulations about how your beneficiaries receive their inheritance. While this might sound like what a will does, it is different because of how you have complete control over your trust as a grantor while you are living and can have some sense of control even after you have passed away. By designating a trustee, you can give over control of your trust following your death. One of the major benefits of a trust is the ability to avoid probate following the grantor’s death. Putting in specific instructions such as leaving an inheritance for your young grandchild that does not get dispersed to them until they’ve reached a certain age or dispersing your assets periodically to promote responsible use of your inheritance is something that isn’t factored in during probate. Set up a trust that works best for you with the help of an estate planning lawyer today.

What is the Role of a Trustee?

A designated trustee for your trust carries an incredible responsibility, especially after you pass away. You can designate a trustee to oversee your trust if you become incapacitated or die. Their role is to serve the trust in your best interests and ensure that the beneficiaries get what you have stipulated as part of your trust when it comes time to disperse your assets. A trustee also has to pay off any debts or taxes that are due following your death. The administration of a trust is a crucial responsibility that can make or break your family’s future. Be sure to designate someone you really trust as your trustee to ensure your wishes are met after you are unable to control your trust. We can advise you on the best way to approach trustee selection and help you understand all the options available to you.

Are There a Variety of Trusts to Choose from?

There are many types of trusts that you can choose from. Each type of trust may have a different purpose. These are some of the most common types:

• Marital Trusts
• Special Needs Trusts
• Life Insurance Trusts
• Living Trusts
• Asset Protection Trusts
• Charitable Trusts

Our law firm will ensure you know about any types of trusts that can benefit you and your family. Consult with one of our trusts lawyers today to learn more about the types of trusts that will fit your needs.

Is It Important to Hire a Trusts Lawyer to Create an Effective Trust?

Even the slightest clerical error on a trust can cost you a lot of time and money. Be sure to entrust an experienced estate planning attorney to help you set up an effective trust that will protect you and your family. Our team of estate planning attorneys will take the complexity out of the process to ensure you understand the intricacies of your trust. Give Thomas-Walters, PLLC a call today by dialing (919) 424-8277 and set up a free consultation.