Discussing Estate Planning with a Trust Lawyer

Discussing Estate Planning with a Trust Lawyer

At one point or another, every person has to make plans for what happens to their assets when they pass away. Taking the time to engage in a little estate planning ensures that those assets are eventually placed in the hands of those who mean the most to the individual. As part of the planning, it pays to talk with a Trust Lawyer about how adding some type of trust fund to the mix will provide benefits to loved ones for years.

Exploring Different Kinds of Trusts

One of the first points the Trust Lawyer will address is the fact that there are a number of different ways to structure a trust. The plan can allow an administrator or trustee to disburse funds on an as needed basis to a beneficiary. At times, the administrator will manage the assets held by the trust and provide a steady income to the recipient based on the returns on those assets. Knowing more about how trusts can be set up and what they can accomplish makes it much easier to determine if including one or more in the estate planning is a wise move.

Accomplishing More Than One Purpose with a Trust

If the client has limited resources but would love to do something for a loved one and also benefit an institution like a house of worship, the lawyer will outline that would ultimately accomplish both goals. The trust could be set up to provide a steady income for the loved one over the years, and then revert to the institution once the primary beneficiary passes away. Depending on how the assets held in the trust perform, it is quite possible to leave behind a legacy that benefits a number of people over the course of several decades.

For more information about the establishment and management of trusts, contact the law offices of Mark Aberasturi today and arrange for a consultation. As part of the discussion, it will be possible to project the possible outcomes using different structures for the trust. Doing so will make it all the easier to settle on the right approach and rest assured the assets are put to good use.

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