Our office can assist you in setting up an appropriate trust for your family. Trusts can be used to manage your property and to protect your children. We also provide advice to Trustees on their roles and responsibilities representing the beneficiaries of a trust.There are a variety of trusts and trusts can be set up for many different reasons.
Our office can assist you in setting up the following trusts:
- Revocable Living Trusts: transfers property directly to a beneficiary without a probate at death. In Washington, the probate procedure is affordable but if you have out-of-state property or a high need for privacy, a Revocable Living Trust is a good option.
- Testamentary Trusts: take effect through your Will after you die. These Trusts are useful in in blended families. In addition, these Trusts might be used to protect funds for an adult child who has difficulty managing money for a variety of reasons including mental illness or drug/alcohol abuse.
- Children’s Trusts: trusts to provide instructions and funds for the care and educational needs of your minor children if both parents are deceased.
- Special Needs Trusts: If you have a family member with Special Needs, it is very important to consider a Special Needs Trust to provide for the long-term needs of your family member. A special needs trust provides a way for a person with a disability to receive financial support while remaining eligible for needs-based government benefits like Medicaid or Supplemental Security Income (SSI). A Special Needs Trust protects these funds and the funds can be used to supplement government benefits.
- Marital or Credit Shelter Trusts: protect a certain portion of the estate from estate taxes if estate taxes are a concern.
- Life Insurance Trusts: provide liquid funds for estates that might be subject to the estate tax and not have the available cash to pay these taxes.
- Pet Trusts: provide directions and funds for the care of your pets.
Trust Law Services
Trusts can be used to manage your property and to protect children or disabled persons. We can help you by:
- Discussing whether a Trust would benefit you or your heirs
- Preparing a Revocable Living Trust, which transfers property directly to a beneficiary without a probate at death
- Preparing a Testamentary Trust, which takes effect through your Will after you die and which manages property distribution
- Preparing a Special Needs Trust, to protect assets for a disabled person
- Providing advice to Trustees on their roles and responsibilities representing beneficiaries in disputes concerning Trusts.