Trusts as a tool to advance your estate planning objectives
When developing an estate plan, you have several choices available to you, depending upon your specific financial situation and ultimate goals. Russell T. Cook evaluates whether specific legal tools can benefit your estate and discusses your many options. Through 25 years of experience, Russ has acquired the in-depth knowledge to establish sophisticated trusts and the foresight to know their actual results to your beneficiaries.

Establishing a living trust
A commonly employed estate planning entity is the living trust. A living trust creates a special fiduciary relationship to manage and distribute property during your life and upon your death. After you establish the trust entity, you can transfer property into the entity and can act as trustee to manage your property during your lifetime. In support of your estate planning objectives, beneficiaries of the trust may include your heirs, charities, alma maters, churches or even your pets. A living trust may be established as an alternative to or in conjunction with your last will and testament, and can accompany any number of other estate planning methods. A living trust must be established in compliance with very strict legal criteria to be considered valid. Russ can prepare the documents necessary to establish a trust that is tailored to your personal needs.

Benefits of a living trust to your heirs
A trust offers important distinct advantages to your heirs, including:  

• Avoiding probate—A will must go through the process of probate, whereas a trust does not.
• Distributing assets more efficiently—Because the property in a trust is not subject to probate, assets are often distributed to your beneficiaries more quickly.
• Saving beneficiaries’ money—By avoiding probate, beneficiaries may save money in court costs and attorneys fees.
• Protecting privacy—The assets held in a trust are not released into public records, keeping vital information about your estate private
• Providing continued support to minors or dependants—A trust can provide a means of long-term financial support for minors or incapacitated adults who are unable to care for themselves.
• Enjoying tax advantages—Your heirs avoid paying estate taxes upon your death on property held in trust, although a trust does not alleviate your current tax responsibilities.

Contact a knowledgeable estate planning law firm to establish your trust
Russ Cook and Associates, P.C. is an estate planning law firm located in Brentwood, TN, serving clients throughout Nashville, Brentwood, Franklin and middle Tennessee.

To make an appointment contact Russ Cook and Associates, P.C. as 615-370-2444 or email.

5141 Virginia Way, Suite 220
Brentwood, TN  37027
Ph: 615-370-2444
Fax: 615-370-5938
View Map