
While some people think that estate planning is only for the wealthy, this is certainly not the case. Estate planning is a useful tool for anyone regardless of age and their financial status. Most of us have valuables that mean something to us, whether the monetary value is modest or substantial. There may be people that we want to give our belongings to when the time for our departure arrives. At W.B. Moore Law, we use our insight into estate planning to help individuals and families create plans that give them ease of mind now and into the future. Our Windsor, CO trust lawyer can get to know you better and offer clear answers on what will best serve you based on your circumstances and wishes. For more information, contact us today to begin!
What A Trust Can Do For You
When you develop a trust, you are transferring the title of your property into a trust. These assets are no longer deemed as part of your estate, so beneficiaries get to avoid estate taxes and the probate process for their inheritances. Trusts can also serve as reliable income for your family or a charity organization. If you have real estate outside of Colorado and transfer it to the trust, you can prevent a secondary probate case being placed on that property.
One of the main benefits that our clients appeal about trusts is that it protects your privacy. When assets go through the probate process, there is a public accounting of the liabilities and assets for the estate. Assets that are within a trust do not undergo the public process of probate. As our Windsor trust lawyer explains, types of trusts that we may recommend for you include:
- Testamentary trusts
- Irrevocable trusts
- Revocable trusts
- Special needs trusts
- Charitable trusts
- Education trusts
Why Our Clients May Prefer Trusts
There are many reasons for establishing a trust. It can offer benefits for certain people depending on what they are looking to accomplish. For instance, a trust can be useful if you want to support a relative who has a disability, you want more control over how your assets are distributed, you want to maintain control over your assets during your lifetime, and you prefer to have privacy when it comes to how your estate is handled after your passing. If you have questions about whether having a trust is right for you, consider contacting us today for guidance!
W.B. Moore Law
At W.B. Moore Law, we are a team of dedicated legal professionals who want the best for you and your family. We know how daunting it can be to think about starting the estate planning process. But we can make it much simpler and less overwhelming for you. We can take you through each step and recommend which documents are going to give you the most benefits and protection. Contact our Windsor trust lawyer today for more information when you are ready!