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Why You Need an Attorney to Create a Trust for Your Estate

Why You Need an Attorney to Create a Trust for Your Estate

Trusts are among the most important legal documents you can include in your estate plan. This is because trusts are versatile, legally effective, and can protect your best interests. Trusts can serve many purposes, such as:

  • Protection of lifetime assets from collectors
  • Probate avoidance
  • Providing for minor children or for special needs
  • Managing wealth during and after the “wealth-maker’s” lifetime

Trusts are legally effective in that the trustee of a trust is legally bound (e.g. required) to follow the rules (terms and conditions) of the trust. Trustees are also required to make timely distributions of money/property to beneficiaries of the trust.

Trusts are also beneficial because:

  • Money can be protected from creditors of the creator of the trust
  • Money can be protected from creditors of trust beneficiaries

Is a Trust Right for My Estate?

Trusts are not for everyone. Just because a trust can help with an estate plan or a lifetime situation, it doesn’t mean a trust always should help. There are other, easier estate planning solutions like making a last will and testament. In some situations, not having a will, could be a better or best estate plan.

How Do I Find the Right Attorney to Create My Trust?

Anyone can sell a trust to another person. When paying for services to establish a trust, it is a “buyer beware” type of situation. There are no rules or laws regulating or prohibiting the selling of “trust drafting services” to a willing buyer. That said, most attorneys are not experienced at establishing trust.

If you are interested in adding a trust to your estate plan, then you need to seek legal guidance from a “trusts and estates” (T & E) attorney. Even though only attorneys are licensed to give legal advice about how a trust will impact your life, legacy, and estate plan, our law firm has found that lawyers (and non-lawyers) that establish trusts without experience often make mistakes. From unnecessary or unsigned documents to unfunded/ineffective trusts, mistakes can be disastrous and may result in expensive litigation.

Contact Our Trusts & Estates Attorneys Today

One thing you probably don’t know about T & E attorneys is that they are especially experienced at litigating in the probate and superior courts over estate plans, trusts, wills, and guardianships. Lawyers are not practiced in the courts, attorneys are. While it’s easy to have a lawyer (or non-lawyer) write a trust, it’s much harder to know how that the trust will stand up to a challenge or future litigation without courtroom experience. Speak with our legal team today to learn more about your estate planning options!

Call Meyring Law Firm at (678) 257-3332 to set up your case consultation with one of our seasoned attorneys.

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