Should You Have A Trust In Your Estate Plan?

While not everyone needs a trust, having one as part of your estate plan may prove to be beneficial. An attorney in our Seattle, Washington, office can help you determine the type of trust that is best for you and draft it according to your estate planning needs.

Why Trusts May Be Beneficial

Here are reasons a trust may be a valuable part of your estate plan:

  • Assets held in trusts do not have to go through probate. This allows you to keep your family's financial affairs private and avoid probate costs.
  • A trust gives you control over your assets while you are alive. You can make changes to the trust as you see fit.
  • If you have children with special needs, you can provide for them without causing them to lose eligibility for Medicare or Medicaid.
  • Trusts can create tax advantages.
  • You can protect assets for your children from being depleted in divorce or bankruptcy.

There Are Many Types Of Trusts To Choose From

There many types of trusts. Here are just a few examples:

  • Living trust
  • Asset protection trust
  • Charitable trust
  • Pet trust
  • Special-needs trust
  • Spendthrift trust

Allow Us To Create A Specialized Trust For Your Estate Plan

A lawyer at Better Plans will work with you one on one to help you determine which trust option would help you accomplish your goals. Contact us today at 206-388-2843 or by filling out this online contact form.