Create a Living Trust with a Mansfield Trusts Attorney
A trust document can be a key component of your estate plan. A Mansfield trusts attorney can explain to you that you do not need to be rich to develop a trust. Instead, trusts are highly customizable documents that can be used to bolster your estate plan in almost any situation.
Living Trust Explained by a Mansfield Trusts Attorney
Living trusts are perhaps the most common type of trust instrument. A Mansfield trusts attorney can tell you that a living trust is generally a document that goes into effect while you are still alive. You will place your property into the trust and the property will be controlled according to the trust instrument.
Individuals should rest assured that placing their property into trust normally will not affect their ability to control the property. By drafting a living trust with an experienced Mansfield trusts lawyer, the creation of the trust should have little effect on your control of the property during your life.
The trust document will normally leave instructions for how the property will be handled while you are alive and what happens to the trust property after death.
Reasons to Create a Trust as Explained by a Mansfield Trusts Lawyer
There are many benefits of creating a living trust. Some benefits of creating a living trust that a Mansfield trusts lawyer can explain to you include:
- Avoiding Probate. Probate can be very expensive. A properly drafted living trust can help you avoid these unnecessary costs.
- Specify Your Wishes. You can leave much more detailed instructions over how your property will be managed and given out in your living trust.
- Confidentiality. Unlike with a will, the terms of your living trust may be kept confidential.
- Continuity. Because a trust is considered a separate legal entity, your Mansfield trusts attorney can help you draft an instrument where your interest in things like a business will continue long after death.
Contact a Mansfield Trusts Attorney
If you have any questions about creating a trust, contact a Mansfield trusts attorney. A trust is an important estate planning tool and an attorney at Gallini Law, PLLC can help develop the right instrument for you. Contact an experienced attorney by calling 817-303-2820.