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Trusts That Protect Your Assets And Maintain Your Privacy
Trusts are effective tools used for estate planning, tax planning, and privacy purposes. Trusts offer important and distinct advantages to you and those you care about, 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 your privacy: Assets held in a trust are not released into public records, keeping vital information about your estate private.
At the Brentwood law firm of Russ Cook & Associates, PC, we prepare comprehensive estate plans for individuals, families, and high-profile clients in Nashville and throughout Tennessee. Our estate plan packages may include very complicated trusts or living trusts.
What Is A Living Trust?
A living trust is a commonly employed estate planning document that creates a special fiduciary relationship to manage and distribute property during your life and upon your death. A living trust may be established as an alternative to or in conjunction with your last will and testament.
A trust provides a place for you to hold your assets out of the public eye. After you establish your living trust, we will help you retitle property in the name of the trust. You can control the property as the trustee during your lifetime.
In the event of your death or incapacity, the person you have named as your successor trustee can take control of your trust property without involving the court. Based on your estate planning objectives, beneficiaries of the trust may include your heirs, close friends, charities, alma maters, churches, and even your pets.
Preparing Trusts Designed To Protect Your Assets
Just as our clients have a wide variety of needs and circumstances, there are many types of trusts to suit every desire. Whether you have a child with special needs, need extensive tax planning, or wish to keep your financial affairs out of the public eye, we will design and implement a trust that is tailored to fit your unique needs. Some examples include:
- Community property trusts
- Asset protection trusts
- VA trusts
- Charitable trusts
- Special needs trusts
- GRATs, CRUTs, CLATs, CRATs, CLUTs and QPRTs
Contact A Certified Estate Planning Lawyer In Nashville
With more than 30 years of combined experience, we will prepare estate planning documents necessary to establish a trust that is tailored to your personal needs. To schedule your initial consultation, call 615-200-9117 or contact us online.