Minneapolis Trusts And Estate Lawyers
There are many reasons that establishing a living trust may be appropriate and beneficial for you. Not everyone needs a trust, but failing to learn and understand what a trust can accomplish is often a missed opportunity. Depending on your specific circumstances, a trust may be the best solution for bypassing the probate process, avoiding excessive taxation, providing security for a disabled loved one or accomplishing other goals.
What Is A Trust? How Do I Decide Whether I Should Have One?
Generally speaking, trusts are about exerting greater control over your assets and how they are distributed. They may be irrevocable or revocable (permanent or subject to change), and there are an array of types of trusts. At David M. Jacobs, P.A., we can answer all your questions and explain how a specific type of trust would address your needs. Our lawyers will recommend forming a trust only if we are confident this is in your best interests.
The total value of your assets is just one factor we consider in evaluating whether you should have a trust. Some scenarios and benefits include:
- Many types of trusts may keep your will out of probate court, allowing your family to keep asset distribution private, streamline necessary processes and reduce costs.
- A testamentary trust or contingent family trust can include stipulations for who manages assets until minor children reach a certain age.
- A special needs trust may be essential for preserving money for a family member who has a disability while protecting his or her eligibility for government funds and services.
- An array of more specialized trusts, such as credit trusts and life insurance trusts, have specific applications and advantages we will be glad to discuss.
“We were elated when our first grandchild was born. Dave wisely had us add a trust to our estate plan designed to protect and provide for him in the future. Now we have peace of mind knowing we did all we could for the little guy.” – Joanne D.
See our testimonials page for more comments from clients we have helped.
Statewide Services, Including The St. Paul Area: Special Needs Trust Attorneys With Decades Of Experience
Whether you have modest assets or millions to protect for your heirs and beneficiaries, our Minneapolis-based trusts and estate attorneys will put your family first. You will not have to project what you think you need, do research or prepare in advance for our face-to-face meeting. We welcome all inquiries and serve people statewide across Minnesota.