Golden Trust Planning Lawyer
We know how hard you’ve worked to establish yourself. It is natural not to want these investments and assets to fall into the wrong hands while you are alive or once you pass away. Trust planning is the tool that gives you control over your finances. It is an effective tool that allows you to control whatever assets, businesses, investments, and even cash you invest in the business. It will enable you to control who can benefit from the assets and any other decisions you might make.
The Golden trust planning lawyers at Brady, McFarland & Lord, LLC are here for all of your trust planning needs. We have been assisting clients in choosing the right type of trust and helping them with their execution for more than 20 years, and we will do everything in our power to make sure that all of your needs are met. Call our office at (303) 420-2863 or contact us online to set up a free initial interview.
All You Need to Know About Trust Planning
In order to know what is best for you, it’s essential to have an understanding of what trust is and how to trust planning works. The following are some of the crucial aspects of trust planning:
This is one of the most important aspects of trust planning because, without assets, you likely have no need for trust in the first place. Before deciding what type of trust is best for you, you need to list your assets, investments, savings, insurance policies, and everything you would like transferred into these trusts. Once you’ve familiarized yourself with all of your assets, it’s essential to write them down and then collect further documentation.
Without proper documents to prove a particular business or investment belongs to you, there is no way it will get transferred into your trust. It is necessary to keep all vital documents in a safe location. When creating a trust, you will need documents such as life insurance policies, deeds to prove homeownership, titles to prove car ownership, bank statements, records of stock holdings, and more.
Set Up Your Beneficiaries
After your assets, identifying those people you want as your beneficiaries is a critical aspect of trust planning. Now you can let your trust planning attorney know how to structure your trust. You may wish to set up more than one trust and have a different beneficiary for each. For example, you might want to set up a trust for a child, a spouse, or even a charitable foundation.
Choose Your Trustee
A beneficiary does not manage a trust, a trustee does. A trustee is a person to whom all the property is entrusted until the beneficiaries are ready to take possession of the assets in the trust. This trustee is legally required to follow the guidelines outlined when you created the trust. If they don’t abide by the rules you set up, they can be held personally liable.
Our Golden Trust Planning Lawyer Can Help With All of Your Trust Planning Needs
Drafting a trust can be tedious, and you likely need legal assistance to help you navigate these unfamiliar waters. An experienced Goldenestate planning attorney at Brady, McFarland & Lord, LLC can help you determine what kind of trust is best for you, and they can help you structure it in a way that ensures your wishes are carried out. Call our office at (303) 420-2863 or contact us online to set up a free initial interview.