Trusts are estate-planning tools that can replace or supplement wills. Trusts also help manage property during your life. A trust manages the distribution of a person’s property by transferring its benefits and obligations to different people. There are many reasons to create a trust, making this property distribution technique a popular choice for many people when creating an estate plan.

The basics of trust creation are fairly simple. To create a trust, the property owner the “trustor”, “grantor” or “settler” transfers legal ownership to a person or institution (the “trustee”) to manage that property for the benefit of another person, the “beneficiary”. The trustee often receives compensation for his/her management role.

There are numerous detail and possible complications when setting up a trust, such as tax, governmental assistance, probate, and personal ramifications. A complete understanding of the entire procedure and the advice of an experienced estate planning attorney at all stages of the process—from preliminary discussions to execution of trust documents – is of paramount importance.

Contact us to set up a meeting where we will evaluate and discuss your needs. Our competent staff will take care of the procedures from start to finish.