Trusts
Could You Benefit from a Trust?
There are many types of trusts, each with its own set of advantages and limitations. We take the confusion out of navigating your options, making it easier to identify and use the tool that best suits your objectives.
Safeguard Your Assets
Trusts Preserve More Than Just Wealth
When you create a trust, you’re not just protecting what’s most important; you’re also receiving peace of mind. You see, a trust may offer financial benefits, but the emotional benefits are hard to quantify.
What will you gain when you create a trust?
Protection
Keep assets safe for your beneficiaries.
Clarity
Control how assets are disbursed and spare loved ones a lengthy and expensive probate process.
Privacy
Avoiding probate allows you to pass on your assets privately.
Find the
Right Trust for You
Finding the right trust for you begins with finding out about you-understanding your goals and what’s most important to you and your family. But that’s only the beginning.
When you create a trust with AlerStallings, you’re building a relationship that will last a lifetime. That’s because we plan yearly, complimentary meetings to review where you are and what you may need. We’re here to ensure you don’t just have the right plan today, but that you still have the right plan tomorrow.
Learn more about some of the trusts we provide and their benefits:
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Revocable Trust
Makes it easier to transfer assets to your beneficiaries without probate costs and delays and allows you to control not just who receives assets, but when those assets are received
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Asset Protection Trust
Keeps assets protected in the event you need nursing home care
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Special Needs Trust
Protects assets for loved ones so important government benefits are still available
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Life Insurance Trust
Minimizes your estate tax and maximizes the benefit of your life insurance policies for your beneficiaries
Our Goal is to Help You
Reach Your Goals
We know estate planning can seem tricky and even intimidating. That’s why our firm focuses exclusively on estate planning and elder care law. We take the time to listen to your concerns and navigate complex and personal matters. Our mission is to help people make the best decisions for their families, and we do it with heart. Your life story is all your own, and your plans should be uniquely yours.
Need a Bit More Clarity?
Having questions is common, and encouraged. We want you to feel comfortable and informed.
With that in mind, here are a few of the questions we hear most often.
A trust is a legal arrangement where assets are held and directed by a third party (sometimes you) on behalf of a beneficiary.
A trustee is a person or entity that holds the contents of the trust.
A beneficiary is the person or people who will receive the property or assets contained in the trust.
A revocable trust can be revoked as long as those who granted the trust are of sound mind. Revocable trusts allow your assets to avoid the probate process, which is often a big financial burden on your estate. A revocable trust provides more control over how distributions are made. An irrevocable trust cannot be revoked, so the document will continue to exist for as long as the terms of the trust dictate. While irrevocable, this type of trust can meet your goals of asset protection and/or tax minimization, while still allowing flexibility like changing the trustee or your distributions even after the trust is established. When used properly, irrevocable trusts can be used to protect your assets from long-term care.
This is an agreement with three parties: grantors (aka settlors or trust-makers), trustees (or trust managers), and trust beneficiaries. For example, a husband and wife may name themselves all three parties to create their trust, manage all the assets transferred to the trust, and have full use and enjoyment of all the trust assets as beneficiaries. Further “back-up” managers can step in under the terms of the trust to manage the assets should the couple become incapacitated or die. Special provisions in the trust also control the management and distribution of assets to heirs in the event of the trust-maker’s death. With proper planning, the couple can also avoid or eliminate death taxes on their estate. The revocable living trust may allow them to accomplish all this outside of any court proceeding.
A trust is a legal vehicle that can hold assets. A will cannot hold assets. In addition, administration of a trust does not require probate, whereas using a will at someone’s death requires probate.