Responsible Trust Planning Attorney in Severn, MD
Do you want to distribute your assets and benefits according to your wishes while avoiding probate? If so, a trust might be right for you. Trevillian Law's estate and trust planning attorney in Severn, MD and surrounding areas provides strategic legal counsel. For over 25 years, we've guided clients through trust options and helped them decide which kind will best meet their needs. We serve as genuine advocates for our clients, ensuring the future they want for their families and loved ones is realized.
What Does a Legal Trust Do?
A trust is a legal declaration of who gets a person's financial assets and benefits after they pass and how they will be managed. With a trust, a trustor gives another individual, or trustee, the right to hold and manage assets. They provide legal protection for assets and ensure they are correctly distributed upon the trustor's death. Many clients choose trusts because they avoid the probate process and set specific terms and conditions that must be followed by law. In some circumstances, trusts can provide some tax benefits for trustors.
The Three Primary Types of Trusts
The way trusts are presented and arranged varies depending on the type. Our team specializes in helping clients plan three types of trusts. They are:
Revocable Living TrustsThis trust comprises living legal documentation you can alter anytime. It helps you manage your assets and property while you're alive.
Testamentary TrustA Testamentory Trust is created upon death and is typically found in a person's Will. It directs that certain assets be held in trust for the benefit of specific persons.
Special Needs TrustsA special needs trust withholds assets and financial benefits for a person with a chronic illness, disability, or medical impairment.
How Do I Select the Right Trust for Me?
Each trust offers a different set of advantages to you, depending on your current circumstances and what you envision for the future. Some questions we might ask you when deciding on a trust include the following:
- What assets are most important to you? Which do you want to be protected most?
- Who do you trust most to execute your wishes and demands?
- Will there be strife within the family after they learn what your trust contains?
- Do you want to make changes to the trust during my lifetime?
- Do you want your trust to be private or known to my loved ones?
Customize Your Trust to Your Needs
With so many trust options available, you may have difficulty finding which is best for you and your family's future. Deciding whether you want to alter your trust while you're alive or establish it now is essential to determine which kind will suit you. At Trevillian Law, we understand the complexities of trust law and have helped clients get their affairs in order with excellence for over 25 years. You can rely on us to provide professional and caring guidance for you and your loved ones.