Saving Your Beneficiaries Time And Money Through The Effective Use Of Trusts
The use of trusts in your estate plan can be an effective way of streamlining the administration of your estate. By placing your assets in trusts, your beneficiaries avoid the expense of time and money that would normally be spent on the probate process. They also avoid many of the estate and inheritance taxes that many beneficiaries are required to pay.
There are many different trusts that you can use to reach your estate planning goals, and each has its own set of advantages and disadvantages. Having an experienced estate planning attorney can help to ensure that you clearly understand your options and that you make the best choices for your needs.
How Trusts Work
Any kind of property can be placed in a trust, including cash, stocks and real estate. When you put property into a trust, you provide specific instructions regarding how the property should be managed, the timing and method of distribution of the assets and any other instructions you wish to include. A trustee will be appointed to oversee the trust until the assets are distributed. At the offices of Benavidez Law Group, P.C., we can help you establish a trust and draft the documents to clearly communicate your instructions.
We have experience helping clients with a wide variety of trusts, including:
- Revocable and irrevocable trusts
- Charitable trusts
- Insurance trusts
- Education trusts
- Special needs trusts
Speak With A Lawyer About How Trusts Can Help You Reach Your Goals
We will work with you to understand what you wish to accomplish via a trust and recommend the best match for your needs. We fully explain the differences between the various trusts and the advantages and disadvantages associated with each one. Contact our Tucson, Arizona, office to discuss your estate planning needs with one of our attorneys. You can reach us by phone at 520-314-8954 or contact us via email for an appointment.