Generally speaking, a trust is more complex than a will. The basic premise of a trust, however, is simple: a person, the ‘settlor’, places assets into a trust which is managed by a second person, the ‘trustee’, for the benefit of a third person, the ‘beneficiary’.
There are many types of trusts and are mostly exempt from the probate process. What type of trust depends on each individual’s estate and personal goals. We do not use a one-size-fits-all approach or follow the recent fads in financial planning. Our attorneys take time to know you, your goals and develop a personalized plan to help you achieve them.
In some cases, you may want to start transferring assets while you’re living. You may, however, need a trust for an individual with special needs or maybe just to protect assets from creditors or to mitigate a potential tax burden. Our estate and trust attorneys offer reliable advice specific to your situation.