Family and finances—two things in which protection cannot be left up to chance.
Luckily, there are important steps you can take from a legal standpoint to protect both. Creating a trust, and choosing a qualified trust administration attorney to oversee it, is one of the best methods for achieving this.
With that said, the world of wills, trusts, and estates can quickly grow very complicated. It’s imperative that you hire a trusted professional to ensure the best interests of all parties involved are upheld.
For more information on the importance of selecting a respected trust administration attorney, read on below.
This means that one party (the trustee) oversees the legal structure, receiving the right to hold property or assets from the grantor (or trustor). This is done to protect the best interests of a third party (the beneficiary).
This also includes various other protections as well. It can include various legal, financial, and tax-related benefits. Furthermore, it can reduce time and paperwork related to the distribution of assets following a death.
In essence, the trust holds the assets in question, governed by the rules of the trust. These rules say what can come in and out of the structure—and to whom.
These rules are in the form of a legally binding contract, often known as the trust document.
These are created by professionals to incorporate all aspects of important factors and goals, depending on unique circumstances. Because of this, no two trusts will look exactly the same.
Generally speaking, there are three main categories of trusts:
Each type varies to benefit different groups—again, depending on your unique needs. It’s important to carefully review your options and to understand the legal and financial implications that follow each choice.
This is where the advice of an expert comes into play.
With so much on the line, it’s important to carefully select the best trust administration attorney for your needs.
How to Choose a Trust Administration Attorney
Like any area of law, it’s imperative that you thoroughly research your available options. You should look for a trusted attorney from a respected firm, with years of experience in that particular sector of law.
They should have a stellar track record and reputation, with positive reviews from other community members. Ultimately, finding the best trust administration attorney will depend completely on your family, finances, and goals.
Locating the Best Trust Administration Attorney in Arizona
Contact Citadel Law Firm today to schedule your free consultation! You can do that by clicking here or by calling (480) 565-8020. Our estate planning attorneys in Chandler, AZ will be pleased to assist you.