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A trust is an important part of proper estate planning, and can be an invaluable tool in protecting what you value and preserving what you own. Contact us today to discuss whether establishing a trust might be a smart move for you.
Family Trust Lawyers
While making plans for the future may involve dealing with possibilities many of us would rather not contemplate, it is a necessary part of making sure your interests and assets are protected. At the Law Offices of David L. Carrier, P.C., we have been assisting clients for over 34 years by developing sound financial strategies, providing options that allow you to preserve what you owe, while helping your loved ones avoid costly and time consuming probate proceedings. Our Holland family trust lawyer provides comprehensive, caring legal service to protect your rights, while ensuring your intentions are honored.
Family Trust Services Offered
In the event you become incapacitated, it is important to make sure your assets are protected, and a trust can help you to accomplish this goal. Our firm can assist you in establishing a trust that conforms to the Michigan Trust Code, allowing you to shelter your assets from taxes and against creditors and lawsuits, while laying out specific terms for how the proceeds are to be distributed in the event of your passing. There are a variety of types of trusts to consider, and our Holland family trust lawyer can help you determine which ones fit the needs of you and your intended beneficiaries.
Benefits of Establishing A Trust
Trusts have become increasingly popular as a way to protect and preserve the assets you have spent a lifetime building. A recent CNN Money report reflects how trusts have become a staple in estate planning, listing some of the many advantages these legal documents offer:
Flexibility: A trust allows you to put conditions on how and when money is distributed in the event of your passing.
Value: A trust can help your loved ones avoid costly probate proceedings, while reducing the amount of taxes owed.
Protection: A trust can protect your assets from creditors, as well as from being depleted by nursing home and home health care costs.
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.
Revocable Living Trust
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.
Irrevocable Asset Protection Trust
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.
Special Needs Trust
This can be used to shelter assets to ensure Medicaid eligibility in the event you or one of your children is disabled.