How We Use Trusts To Enhance Your Estate Plan
Unless you own very few assets, a trust can be an excellent tool to help you minimize the costs and delays associated with bringing an estate through probate. Some people mistakenly believe that trusts are only useful to wealthy people. The truth is, most people in Washington state could benefit from having a customized trust as part of their estate plan.
Turn To Our Estate Planning Attorneys For Help Using Trusts
If you are ready to begin estate planning, our attorneys at Gierth-Eddy Law Offices, PLLC, are here to help you. We will walk you through your options regarding trusts and create a plan tailor-made for you, your legacy and your loved ones. Our advice to you will be practical, straightforward and designed to empower you to make important decisions about your plan.
A trust is a legal instrument to which you transfer ownership of whatever property you choose. The trustee then maintains that property for the benefit of the beneficiaries. You may choose to serve as trustee yourself, or designate a third party to handle it. Generally, assets placed into a trust do not have to pass through probate, and they are not subject to estate taxes.
Wide Range Of Trusts Available
Your beneficiaries could include your children, other relatives or a favorite charity. It is truly up to you. Commonly used estate planning trusts include:
- Revocable trusts
- Irrevocable trusts
- Special needs trusts
- Spendthrift trusts
- Charitable trusts
These trusts work in different ways and serve various needs. After you explain what you want out of your estate plan, we will go over which types of trusts will best help you achieve those goals. We will show you how to place assets into a trust and help you decide who should serve as trustee. You will enjoy the peace of mind of knowing you are taking full advantage of the benefits a trust has to offer.
Get Started Controlling Your Legacy
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