Trusts
Protecting Your Assets and Ensuring Your Legacy
At Kierman Law, we understand that planning for the future involves making critical decisions about your assets and your loved ones. Trusts are an essential part of comprehensive estate planning, allowing you to protect your assets, manage tax implications, and ensure that your wishes are carried out effectively. Our firm is here to help you navigate the various types of trusts to create a customized solution that fits your unique needs.
Revocable Trusts
A Revocable Trust, also known as a living trust, offers flexibility and control over your assets during your lifetime. You can modify, amend, or revoke the trust as your circumstances change. This type of trust is an excellent option for those who wish to avoid probate while retaining control over their property. With a revocable trust, you can ensure a smooth transition of your assets to your beneficiaries without the delays and expenses of probate court.
Irrevocable Trusts
An Irrevocable Trust provides significant protection for your assets, but unlike a revocable trust, it cannot be altered once it’s established. This trust is ideal for individuals who are looking for ways to reduce estate taxes, protect their assets from creditors, or plan for long-term care. By placing your assets into an irrevocable trust, you can effectively remove them from your taxable estate, which can offer peace of mind when planning for the future.
Special Needs Trusts
A Special Needs Trust is designed to provide for a loved one with disabilities without jeopardizing their eligibility for government benefits. This type of trust allows you to set aside funds for the care and well-being of your loved one, ensuring they have the financial support they need throughout their lifetime. Whether it’s for medical expenses, personal care, or other quality-of-life needs, a special needs trust is a vital tool for protecting your family’s future.
Confidential Trusts
If privacy is a top concern, a Confidential Trust may be the right choice for you. Unlike traditional wills, which become part of the public record upon your death, a confidential trust allows for the discreet transfer of assets. This type of trust ensures that the details of your estate remain private, giving you the peace of mind that your financial matters will be handled with the utmost confidentiality.
Let us help
Whether you’re seeking flexibility, asset protection, or privacy, our experienced team is here to help you every step of the way.
Get in Touch
Let us know how we can help you plan for the future.