Trust lawyers at Zimmer Law Firm can provide assistance with the creation of a trust so you can use this important estate planning tool to protect your assets and to protect your loved ones. Trusts are versatile and powerful, but far too many people don’t understand them and do not make use of them even though they should.
If you are planning for your future, you should take the time to talk with trust lawyers to find out if trust creation is a good option for your particular situation. Zimmer Law Firm can provide personalized advice specific to your situation about trusts. You can also read on to find out five key things that trust lawyers want you to know when you are thinking about trusts.
1. Trusts are Not Just for Rich People
Many people who could benefit from having a trust don’t even think to create one because they assume that you have to be wealthy to make a trust. You don’t want to miss out on benefits a trust can provide to you just because you aren’t aware that trusts could be helpful. For example, many middle class people could benefit from a trust to protect their assets in case they require costly nursing home care — but they don’t realize it. Trust lawyers at Zimmer Law Firm can help you to evaluate your goals and your financial situation so you can decide if you should make a trust.
2. Trusts Are Very Versatile
Trusts can do lots of different things. You can make a trust to simply facilitate the timely transfer of assets. Alternatively, you could make a trust to protect your assets in case you need nursing home care or you could create a trust to provide for a child with special needs. Trusts could also be used to transfer assets to someone who you think is irresponsible with money while protecting the inheritance you are providing. Because there are different kinds of trusts for different purposes, you’ll need to work with an attorney to select the right trust to accomplish your goals.
3. Trusts Can Provide Protection for Assets
Trusts protect your assets in different ways. If you want to make sure that you have a trusted person to manage your assets in case of incapacity, a living trust could be the best type of trust. Alternatively, if your goal is to protect assets after your death from being squandered by irresponsible heirs, a spendthrift trust could be the best approach. An attorney can assist you in understanding the ways in which trusts can keep your wealth safe so you can select the right trust type and have the peace of mind of knowing your hard-earned money will be protected so it can provide for you and the people you love.
4. It’s Best to Make Trusts as Early As Possible
Making a trust can take time, and you need to be in sound mind when you do it. You don’t want to wait too long to make your trust and have something happen to you so you can no longer get the benefits that the trust would provide. As soon as you have assets you want to protect or people you want to provide for when a will isn’t sufficient, you should work with an experienced attorney to create a trust.
5. You Should Have Legal Help From Trust Lawyers When Making a Trust
It’s far too easy to make mistakes when creating a trust. You might choose the wrong trust type, not follow formalities for creating your trust document, or fail to fund your trust properly. You may also not understand the implications of transferring certain types of assets to your trust. An experienced attorney can help you with the trust creation process so you can ensure that the process goes smoothly and the trust provides the protections you expect.
Contact Trust Lawyers Today
If you have decided that you want to get advice on trust creation or if you are thinking that creating a trust could be right for you, you should reach out to the trust lawyers at Zimmer Law Firm for help. We can evaluate your specific situation, provide advice on whether you should create a trust, and help you with the trust creation process. We can also help you to fund your trust.
To find out more about the assistance we can provide with trusts, join us for a free seminar. You can also give us a call at 513-721-1513 at any time for personalized one-on-one advice.