What Is The Purpose Of A Trust?
A trust serves a number of purposes. You can possibly shield money placed in a trust from taxation and expense. A trust also allows you to be able to maintain control over your estate even after you are gone. You can create testamentary trusts to accompany a will.
At Rouse Law Office, our team brings over 50 years of industry-rated experience to your estate plan. As we develop your trust, we draw on a vast array of legal resources to create a personally tailored legal trust that meets your needs. Attorney David Rouse is AV Preeminent peer-review rated,* the highest rating, through Martindale-Hubbell and is among the most respected attorneys in the legal industry. Our service reflects that reputation. Come in and find out how we can support you.
Creation Of A Special Needs Trust
In the event that you have a child who is a minor or has special needs, you can create a special needs trust that will direct how money should be used to care for that individual.
A special needs trust allows you to put money aside for minor children or adult children with disabilities who are unable to take care of their own affairs. It allows you to make sure specific funds are available to take care of the child’s needs.
Accounting For Trusts In Your Estate Plan
When creating a comprehensive estate plan, one of the best things you can do for your heirs is update your will to include vital information about your trusts, insurance plans and other assets in your will. A proper index of your trusts, the named trustees, relevant beneficiaries and any other helpful information like crucial terms or contingencies can save your loved ones weeks or months of coordination and searching.
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*AV®, AV Preeminent®, Martindale-Hubbell Distinguished and Martindale-Hubbell Notable are certification marks used under license in accordance with the Martindale-Hubbell certification procedures, standards and policies. Martindale-Hubbell® is the facilitator of a peer-review rating process. Ratings reflect the anonymous opinions of members of the bar and the judiciary. Martindale-Hubbell® Peer Review Ratings™ fall into two categories – legal ability and general ethical standards.