A trust can be a very important estate-planning tool. Basically a trust is created when you, the settlor/grantor, transfer assets with the intention that they be administered by a trustee for the benefit of certain individuals or entities. Your trust should be designed to fit your individual needs and personal objectives, and not just be a boilerplate document.
A well drafted trust does not just designate the flow assets to beneficiaries, it can also provides for long term asset management, asset protection, long term care issues, estate tax planning issues, special needs issues, etc. Trusts by design are used to avoid the probate court process, which makes them a very attractive estate-planning tool to many individuals.
Some of the trust types we can assist you with are:
- Revocable Living Trust
- Irrevocable Trust
- Qualifying Special needs Trust
- Discretionary Spendthrift Trust
- Estate Tax Shelter Trust
- Marital Trust
- Medicaid Trust, Asset Protection
For a more detail list and explanation of all trust options available contact the Law Offices of John A Russo.