WHY YOU NEED AN ATTORNEY TO SET UP A TRUST
Aug. 26, 2016
Using an Attorney to Set Up Your Assets
You have worked hard your entire life to create an estate that you and your family can be proud of. In the event that you’re not around anymore, you want to make sure that your loved ones will be able to benefit from that estate without any legal trouble. Setting up a living trust so that they are protected from predators and creditors can be a difficult process without an experienced attorney helping you along the way. A living trust allows for you to enjoy all of your assets in your lifetime, and safely transfer them to your loved ones in the event of your passing. Here are a few reasons that you should set up a trust for your loved ones.
1. Protecting Your Kids
If you’re not around to protect them, creditors and predators may come and try and cheat your children out of their inheritance. Because of this, great attorneys will implement a kids protection plan that sets up legal protection for the kids. Getting an attorney that’s experienced in setting up trusts is important so that they can skillfully implement these extra protections on your behalf.
2. Protecting Intellectual Property
There are tangible assets that your trust can look after, such as your property and money, but what about the intangible? Intellectual property is one of the most important wealth builders in this country as we are in a constant state of innovation. Make sure that your attorney has a process set up to protect your intellectual property so it stays in your family after you’re gone. After all, you need to protect ALL of your assets, not just the ones that you can see and touch.
3. Saving For College
You want your children to have all of the money that they need for college. Talk with your attorney about setting that up as part of your trust in order to protect them. By doing this, they’ll be able to focus on their studies while they’re in college rather than paying the bills.
4. Providing Privacy
Unlike a will, a living trust is not made public. That means your estate is distributed privately to your loved ones instead of publicly, which can help save them from creditors and other predators from harassing them for money. Your estate also won’t go through the
probate process, which involves the court proceedings distributing your estate through an executor. A trust is much quicker, quieter, and more private than a will is.
Hire an Attorney to Set Up a Trust
In order to make sure that your family gets to enjoy the empire that you built for them, you need protect your assets. A living trust is the most effective way to enjoy your estate during your lifetime and transfer it to your loved ones after you pass. A trust will do this much more quietly, quickly, and comfortably than a will could ever accomplish. Contact your attorney today to set up a living will so your estate is protected.