Reliable Guidance To Set Up A Trust
An estate plan includes a set of documents created for specific purposes and to protect particular interests, assets and loved ones. However, navigating the law and choosing the right tools while preparing for potential scenarios requires skilled guidance, and we stand ready to help.
At Gebhardt Emerson Moodie Bonanno, LLC, our primary goal is to cover the legal needs of families like yours in Colorado. We understand what is at stake and strive to provide highly customized solutions to overcome present difficulties and prepare for the future through sophisticated estate planning solutions, including trusts. Following we discuss some of the points to consider before choosing to set up a trust.
When Is A Trust A Good Option For Me?
A trust becomes a valuable tool to protect specific or unique assets. Some of the benefits it may offer include:
- Gaining control over the time beneficiaries will receive certain assets
- Preparing in case of incapacitation
- Protecting assets from potential creditors
- Avoiding the probate process resulting from a will
In our law firm, we have assisted clients in drafting the following types of trusts:
- Irrevocable and revocable trusts
- Trusts to avoid specific taxes, such as life insurance trusts and “Crummey” trusts
- Trusts related to real estate, such as Qualified Personal Residence Trusts (QPRT)
However, such a fiduciary arrangement may have downsides to review. That is where we are ready to listen to your concerns and assist you in making informed decisions.