A Trust can offer a number of benefits, from avoiding probate to protecting your assets, depending upon the type of Trust you choose. But before you begin creating a Trust, you should consult with a good estate-planning attorney to help you set it up.
Why You Need A Lawyer
Having an attorney set up your Trust offers you several advantages; a good attorney will guide you through the many different types of Trusts and help you decide which type is best for your circumstances. Some Trusts can be easily changed, while others are irrevocable, meaning once they’re in place, it’s hard to undo. These are things you need to know before you commit and an attorney is the best person to guide you through this process.
In addition, each Trust offers a different array of benefits, so which one you’ll need will depend upon your individual circumstances. When you consult with your attorney, he or she will want to know the details of your situation so that they can suggest the best Trust for you.
Updating Your Trust
There is also a good chance that you might have to update or modify your Trust for some reason; if this does happen your attorney can assist you. Some changes may be mandatory, such as the passing of a new law, while other amendments may be the result of changes in your family and/or your goals. To ensure that your Trust is always current, set up a maintenance program with your attorney to review your estate plan on a regular basis.