Trusts Can Protect Your Assets And Your Beneficiaries
Establishing a trust can provide the assurance that your assets will be properly managed upon your death or incapacitation. They are commonly used shield assets from the expense and delay of probate, but they also can protect beneficiaries who may not have the experience or discipline to handle money.
Trusts can also provide protection if someone becomes incapacitated or unable to manage their own affairs while still living. A revocable living trust is easy to modify and manage during life, and it can provide simple and clear asset management for beneficiaries upon death.
Choose The Right Trustee
You can establish and administer a trust yourself while you are alive and healthy, but it is important to choose the right trustee to manage the trust when you die or become incapacitated. You can and should choose a family member to serve as the trustee for your estate. They will essentially speak on your behalf and carry out your wishes when you are unable to do so yourself, but you can designate anyone you wish to serve as the trustee of your estate.
Some elect to name a bank, attorney, business partner or close friend, and the choice is completely yours to make. The important thing to remember is that you want to select someone who will properly administer your affairs and manage your assets according to your wishes and instructions.
You can create a trust to do almost anything from establishing a monthly payment schedule for beneficiaries to distributing property upon your death. It can also be used to manage your affairs if you become incapacitated, and a trust can eliminate the need for a court to appoint a legal guardian to speak on your behalf. You can choose how your money will be spent and how your assets will be managed so that your loved ones will not have to debate, argue or fight when you are not able to express your wishes.
Contact An Experienced Legal Professional
Establishing a trust is not necessarily a difficult or complicated process, but it is essential that you work with an experienced legal professional. This will help to ensure that you are taking full advantage of the benefits that a trust provides, and Stano Law Firm can help. To speak to us, call us at (440)888-6448 or email us today!
We have helped hundreds of people from Cleveland, Parma, Broadview Heights, Medina, Berea, Brunswick , North Royalton and surrounding areas.
It is never too late to set up a trust in order to protect your assets and your interests. A trust is a powerful and versatile tool that gives you specific control over how your estate is managed, and we can work with you in order to create one that matches your needs and expectations.[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]