As you’re making your estate plan, trusts are tools that can allow you to manage your assets during your lifetime; preserve your assets to pass on to your loved ones; protect assets from your creditors or the creditors of your loved ones; and to provide assistance for your loved ones who may suffer from permanent physical, mental, or emotional disabilities.
We’ll listen to you to understand your goals and explain the tools that will help you achieve them. If a trust is right for you, we’ll consider:
- Revocable living trust—manage your assets during any period of your disability through a successor trustee and to provide a means of avoiding probate for any assets held in the trust upon your death.
- Irrevocable life insurance trusts
- Charitable trusts
- Spousal Lifetime Access Trusts
- Grantor Retained Annuity Trusts
- Qualified Domestic Trusts
Trusts are excellent tools to benefit your children or other beneficiaries under the age of 18. They ensure that their needs are being met in accordance with your wishes, rather than having the court intervene and establish a guardianship estate.
We’ll help you consider if Trusts are a good option for your estate.
To find out how the attorneys of Davis, Agnor, Rapaport & Skalny, LLC can help you structure a plan so your wishes are fulfilled, call us at 410.995.5800 or email an attorney from the Estate Planning Group.