Creating a trust is one of the best tools in the estate planning tool box.  Trusts provide a timely, inexpensive avenue to disburse assets in a private and potentially tax efficient manner.  Probate is the legal procedure where a court verifies and approves your will and the distribution of your assets.  This can be a costly and very public process in some instances while dragging on for months.  By using trusts as part of your overall estate plan you can save time and expense by circumventing the probate process.  Creating a trust involves identifying someone to administer it, called a trustee, as well as someone to receive your assets, call a beneficiary.  Our team will not only work with you to create a viable document, we’ll even sit down with your named trustee(s) and beneficiaries to explain their role, set expectations, and offer guidance with any questions they may have.  Trusts can accomplish many things. They can preserve assets, provide for the needs of a disabled adult child and reduce taxes and avoid the need for probate.  Trusts that Estate Legal Services may establish for you include:

• Revocable living trusts
• Irrevocable trusts
• IRA and Inherited IRA Protection Trusts
• Specials needs trusts
• AB trusts
• Bypass trusts
• Life insurance trusts
• Charitable remainder trusts

If you have any questions about different types of trusts, their purpose, or how your situation may benefit from the use of trusts, please contact us at (301)-304-6182 or Info@EstateLegalServices.com.