If you want to maintain control of your assets now but also want a legal plan in place to distribute them after you pass away, contact McCarthy Law, LLC, to set up an appointment with our Cranston, RI living trust lawyer. We specialize in life care planning and will help you achieve comfort and security for every stage of your life. Call now to get started with a consultation.
How A Living Trust Fits Into Your Estate Plan
Trusts are a valuable part of your estate plan, especially if you have assets to protect. Unlike a will, a trust allows you to maintain control of your finances. Our living trust lawyer will help you through every step of the process, including:
- Naming the person who will be in charge of managing and executing the trust
- Declaring beneficiaries
- Determining rules and how you want the trust fund money used
- Transferring assets into the trust
- Financial tools to help minimize taxation
- Ways to avoid probate
Aside from having increased control of how and when your legacy benefits heirs, trusts serve other crucial purposes, especially when you want to ensure the financial security of a dependent. For example, if you have a family member with special needs, you might be concerned about paying for care after you pass away or in the event you are incapacitated. Our living trust lawyer can help you set up provisions so that they receive benefits. Similarly, if you list minors as beneficiaries, you may want to put rules in the trust about how the money is used, such as for education or other quality-of-life expenses.
Benefits Of Working With A Living Trust Lawyer
There are so many ways to set up a trust to meet the unique needs of your family. Our Cranston living trust lawyer gets to know you, listens to your concerns and goals, and walks you through all of your options. In addition to laying out how beneficiaries use their inheritance, you can also include your medical directives and final wishes. Outlining your desires now takes the pressure off of family members during a stressful time.
Furthermore, putting your assets in a trust can help prevent probate. Without this important estate planning tool, a court may get control of your money if you get in an accident, fall gravely ill, or pass away. The judge will decide how your assets are divided, and this succession may not align with your wishes. Furthermore, our living trust lawyer may suggest including a power of attorney to oversee your medical care if you are ever in a situation where you cannot speak for yourself. Without these directives, a judge will assign you a representative, and that person may not know your values or how you would like to be cared for.
It is never too early to start financial planning. If you want to learn more about your options for setting up a trust or an estate plan, contact McCarthy Law, LLC, to schedule an appointment with our Cranston living trust lawyer. Our goal is to build a relationship with you where you feel listened to, understood, and cared for like family. Call today to see how our firm can help you prepare for the present and the future.