Just like a Will, a Trust allows you to name your beneficiaries, guardians for children, and to set limitations on your children’s access to assets. The big difference between a Will and a Trust is the avoidance of probate. The probate process can be stressful, expensive and time-consuming. With a well-planned trust, you can avoid probate and pass your assets directly to your beneficiaries. Another benefit of a trust is privacy. Probate court files are open to the public and anyone can see what assets you left to your beneficiaries. At Crews Law, we can advise you about the benefits of a Trust and help you decide whether to create one. If you do execute a Trust drafted by Crews Law, we will assist you in moving your assets into your trust and educate you on issues such as income taxes, estate taxes and property taxes.
A Trustee is a person or entity that holds and administers trust property for the benefit of the trust beneficiary. When you establish a trust, you will act as the trustee of your own property for as long as you are capable. We can help you determine who will be the best choice to serve as Trustee when you can no longer do it yourself. We can also advise you on choosing a corporate trustee if you don’t have an individual you can name.
At Crews Law, we can help you answer that question. If the answer is “Yes” then we will guide you through all the issues involved in creating a Trust to implement your wishes and create a seamless transition of assets from you to your beneficiaries.
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