At the Law Offices of David L. Carrier, P.C., protecting and preserving your assets is our top priority. For nearly 30 years, our Grand Rapids family trust lawyer has guided clients in establishing asset protection plans that provide flexibility now, while protecting family members and loved ones against costly and complicated probate processes in the future. Our firm has the legal knowledge and experience to help you be prepared for whatever life may offer, while always ensuring you get the kind of comprehensive, caring client service you deserve.
Ensuring your property and assets are managed properly if you become incapacitated or in the event of your death is vitally important, and a trust is often the best way to accomplish this goal. A trust is a legal document that provides instructions on how to handle your assets, both now and in the future, and in order to be valid it must conform to the rules set by the Michigan Trust Code. Establishing a trust is a process that involves choosing the right type of trust to fit the needs of your estate, while also making sure you have the appropriate legal documents and funding to support it. At the Law Offices of David L. Carrier, P.C., we can help you determine which type of trust would better serve your interests.
A basic trust that allows you to remain in control of your assets, while protecting your loved ones in the event of your death or disability.
A trust which offers some protection from creditors, while allowing you to shield assets for the purpose of collecting Medicare.
Often referred to as inter-vivos, this type of trust is created through a will and goes into effect after your death.
This can be used to shelter assets to ensure Medicaid eligibility in the event you or one of your children is disabled.
The establishment of a trust can play a crucial role in sound and practical estate planning. A recent CNN Money report lists some of the chief advantages in having a trust, which include the following:
Allows you to place conditions on how and when money is distributed to beneficiaries.
Helps to avoid costly probate proceedings.
Can help to reduce the total amount of estate and gift taxes.
Protects your estate against claims from creditors and lawsuits.
In addition to the above, a trust can act as a shelter, shielding your assets and offsetting costs in the event you require long term nursing home care.
It is never too late or too early to begin planning for the future. Contact the Law Offices of David L. Carrier, P.C. today to find out how we can help you to protect and preserve your assets. We provide professional, effective legal representation to assist you with every aspect of developing a solid estate plan. We serve Grand Rapids and the surrounding areas; call or contact our office online today.