The branches of law are multifaceted and diverse. The presence of lawyers in every sector and every field is evidence that the demand for lawyers has been increasing over the decades. With such intensifying demand, various newer fields of law such as competition law, ADR, and cybersecurity have come up. While the concept of ‘trust’ dates back to the 12th century, trust law happens to be a challenging field. A trust attorney is an estate planning professional who helps draw necessary documents to set up a trust for your estate.
We shall thus take a look at what an estate planning attorney does and why you must hire one.
What is a trust?
A trust is an easy way for your family members to benefit from your estate. A trust is different from a will because it allows your family to circumvent the probate process after you pass away. As a matter of fact, trusts are kept private, and away from public records. They include provisions such as low estate taxes so that your family members can actually benefit. The downside of trusts is that they can be really expensive to maintain and require a lot of paperwork, which is why hiring an estate planning attorney will benefit you in ways beyond imagination.
Let us check out what a trust attorney does
- The foremost thing to expect from an experienced trust attorney is the formation of a plan. A trust attorney will evaluate the needs and desires of the client and then formulate a plan. The plan is based on the client’s financial and economic position.
- Another significant thing a trust attorney does is to determine whether the client is married or not and whether he has any legal heir to determine the occurrence of incapacity issues.
- After the said evaluation, the attorney focuses on major documents such as the power of attorney, last and living will and testament and various other trusts.
- The attorney also ensures proper distribution of property and assets of the client.
Why you must hire a trust attorney?
One must hire an experienced and adept trust attorney to make legally informed decisions. Especially, when there are conflicts with the beneficiaries or when the client wants to terminate or modify the trust.
Choosing an attorney can be difficult. You need to have complete trust in the professional in order to let him in on your business plans. This is where Trust law firm Litvack Dessureault LLP offers reliable attorneys that are proficient at their job.