Choosing The Right Type Of Trust For Your Needs
A trust is a legal arrangement that creates a separate sheltered entity where you can transfer your assets for the benefit of your beneficiaries. You appoint a trustee to hold and manage the assets in the trust. Trusts are valuable estate planning tools that can offer flexibility, privacy and control over your financial legacy.
Our firm’s attorney, Jon R. Disrud, has over 30 years of legal experience. He represents people in the San Antonio area who need help choosing and creating trusts. He can also explain the benefits of having a trust as part of an estate plan.
Why Choose A Living Trust?
The main distinction of a living trust is that it is revocable during the grantor’s lifetime. Therefore, the grantor (the person who creates the trust) can modify, amend or completely revoke the trust terms as their circumstances or wishes change.
With a living trust, you (the grantor) can be the initial trustee, retaining full control and management over your trust assets during your lifetime. You then name a successor trustee to manage the trust when you are no longer alive.
What Are The Other Types Of Trusts?
Our lawyer can help you establish any trust arrangement of your choosing. Here are some additional types of trusts:
- Testamentary trusts: You include these in your will, and they take effect after your death, offering a way to manage assets for beneficiaries over time.
- Irrevocable trusts: These cannot be easily changed or revoked, making them useful for asset protection and certain tax advantages.
- Charitable trusts: These can allow you to support causes important to you while providing tax benefits to your estate.
- Special needs trusts: These trusts can safeguard the inheritance of loved ones with disabilities without affecting their eligibility for government assistance.
- Spendthrift trusts: These can protect your beneficiary’s inheritance from their creditors or their own spending habits.
- Generation-skipping trusts: These can protect assets for multiple generations and potentially avoid taxes that could apply if you transfer assets directly to your grandchildren.
At Law Office of Jon R. Disrud, we are committed to helping you understand the details of each type of trust and guiding you in selecting the right trust for your needs.
Put Your Trust In Us
Our experienced estate planning attorney can provide personalized advice tailored to your estate planning goals. You can trust him to listen and find out what you genuinely want to achieve with your trust. Call us at 210-569-0581 to schedule a free consultation or message us here. We are here to guide you every step of the way in creating a trust that best serves you and your family’s future.