Longmont Probate and Trust Settlement Lawyer
You may not want to think about what would happen if you could no longer take care of your family. It is totally normal to be hesitant to consider something like that. However, it is essential to plan for the future and think about what needs to happen in the event of injury or death.
Setting up a trust to protect your assets can be more involved than you think. Additionally, in the event that your affairs need to be settled, you will need a trusted attorney to help your family through that process. The lawyers at Colorado Estate Planning Law Center are here to help you with all of your trust and probate needs, including walking you through the process of setting up a trust, managing that trust, and settling the trust when the time comes. We have been assisting people in the community with this process for decades, and we hope to help you take care of your family when the time comes. Call our office at (303) 420-2863 or contact us online for a free initial interview.
What Does it Mean to Settle a Trust?
If you set up a trust, once you pass away, the trust has to be settled. This means ensuring that the correct person gains control and ownership of the assets that were transferred in the trust. Once the trust is settled and all assets are dispersed, the trust is usually closed.
Avoiding Probate and Extra Costs
When you have a trust in place, your family will be able to avoid probate and the extra time it takes to go through that process. This can help them to better arrange for final expenses in a timely manner. Instead of having your estate go through the court system, your appointed trustee will be able to distribute property and assets quickly according to your wishes. It will also save the expense of having to go through the courts and hire an attorney for those proceedings.
Settling a Trust & Ensuring That Your Final Wishes Are Executed
In general, it is more difficult to challenge a trust than it is to challenge a will. This is because the person forming the trust has ongoing involvement with that trust. It helps to demonstrate competency and understanding of what is happening to the assets while the person is still alive. If family members want to contest your trust after you are gone, they will have to prove that the trust was unduly influenced or the trustee lacked the mental capacity to make those decisions. If you are involved in the setup and ongoing management of your trust, your beneficiaries will likely not have to worry about defending your wishes in court.
Our Longmont Probate and Trust Settlement Attorneys Can Help You Protect and Manage Your Assets
There are plenty of do-it-yourself books and software that can guide you through setting up a trust. However, there can be complicated situations and other considerations that an attorney will be able to handle and need to clarify. If you want to make sure that your family will be taken care of in the event something happens to you, contact Colorado Estate Planning Law Center today. Our estate planning attorneys in Longmont, Colorado have years of experience with trust creation, management, and settlement. Call our office at (303) 420-2863 or contact us online for a free initial interview.