A trust is an estate planning tool we use for asset protection, to provide a plan for the management of assets upon disability, and to help our clients’ families avoid the probate process. We offer various types of trusts, as each trust has unique uses and benefits.
In general, a trust is a written agreement that explains how assets will be held, distributed, and managed. The trust agreement involves three parties: the Settlor (who creates and funds it); the Trustee (who controls it); and the Beneficiary (who receives assets from it). In many cases, all three parties are represented by one person or a married couple.
Trusts are a versatile estate planning tool. They allow us to protect assets, determine where your money goes, can help your family members get access to your money during any period of disability, and streamline the distribution of your assets after your death.