What is a Trust?
Trusts are created to protect beneficiaries and allow for more specific direction around how assets are used after you are gone.
You determine who will manage the trust property, with the goal of protecting the property for the benefit of your beneficiaries. Depending on the trust, you can specify what the funds are used for and tailor this to any special needs that may be present for your loved ones.
Trusts have the advantage of being more difficult to contest than a will, and they are more private since a properly funded trust can avoid court proceedings entirely. There are multiple ways to organize trusts. We can help you understand which type of trust will work best for you and your family.
Specializing in Trust Planning?
No two estate plans are ever the same. We’ll create one based on your needs and situation.
After completing your estate planning documents, you may want to meet with us again for a follow-up meeting to verify that your trust was properly funded. Within a reasonable amount of time, we will answer any questions you have regarding your trust and its initial funding free of charge, including a follow-up funding meeting. We offer this free service because we want you to be completely satisfied with our work, and we want to ensure that you can transfer your assets into the trust as quickly and as easily as possible.
When Do I Need to Change my Trust?
Remember that your estate plan is a reflection of how you want your affairs handled. It is critical that you think of your plan as a process, not a product. In this way, you can be assured that the plan does what you want it to do upon your death or in the event of your disability.
We prepare your estate plan to deal with many contingencies, if they arise. It may be wise to consult with us again if one of the following events occurs:
- You want to change the way your estate will be distributed.
- You decide to change who will act on your behalf as Successor Trustee, Personal Representative, Property or Health Care Agents.
- Either you or one of your beneficiaries gets married or divorced.
- The birth or death of a beneficiary, or the death of a Successor Trustee, Personal Representative or Agent.
- A significant increase in your net worth; receipt of retirement benefits from your employment, or sale of significant assets.
- Moving to another state.
- A drastic change in your health.
Since these events throughout your life, we offer a free review of your estate planning if your plan is more than three years old, whether the initial documents were created at Stone Law or not. Call 877-897-6591 today to schedule your review and make sure your estate planning continues to meet your needs.