Why You Need to Include Trusts in Your Estate Plan

While many people believe that trusts and estate planning are just for those who possess great wealth, the truth is, all adults should consider the various ways that trust can be used in their estate plans. Below, we explain a few ways that trusts can be used to avoid probate, protect your assets, and preserve your legacy.

Living Trust & Estate Planning DocumentsChoose Who Controls Your Property

When you set up a revocable trust or an irrevocable trust for your assets and funds, you have the option of being a trustee. However, there are tax implications that you should discuss with an experienced estate planning attorney before establishing a trust. You can also name co-trustees, such as your spouse, children, or a family friend. You can also name a successor trustee, which is the person who will take over the trust if the primary trustee passes away or becomes incapacitated.

Are Your Assets Protected?

Do you own real estate property? Do you have life insurance? Are your total assets worth more than $150,000? If so, then you can benefit from a trust. However, the type of trust you need will depend on your health, age, and the amount and location of your assets. Contact our firm today to determine if any of the following trusts are right for you:

With the right trust in your estate plan, you can feel confident knowing your assets are protected and that your estate will avoid probate and have minimum tax liability.

Only the People You Choose Can Access the Trust

The purpose of a trust is to keep people you don’t want from obtaining your assets. You retain control over the assets that may be gifted during your lifetime. You can also impose restrictions on the assets that go into effect after you die.

Call Our Estate Planning Team Today

Do you have more questions about using trusts to avoid probate and protect your assets? Then reach out to Dorcey Law Firm so we can discuss your estate planning goals and devise a strong legal strategy tailored to your unique needs.

Give us a call at (239) 309-2870 to schedule your free case consultation with one of our estate planning lawyers in Fort Myers.