Estate Planning And Trusts Are Critical To Protecting Your Assets

 

Estate Planning And Trusts Are Critical To Protecting Your Assets

Parklin Law

Investing in the right kind of trusts and estate planning attorney near me is a critical step to protecting your assets. A trust is a legal document that allows you to retain control of your property and investments while allowing someone else to manage them on your behalf.

Grantor retained trusts

Using a grantor retained annuity trust (GRAT) can help your family pass your assets on to your heirs without paying estate and gift taxes. However, you should consult a tax professional to ensure that the GRAT is the right choice for your family.

A grantor retained annuity trust is an irrevocable trust that holds assets for the benefit of your heirs. Generally, the trust is created for a specified period of time, such as two years or ten years. The trust also provides the benefit of asset appreciation. Once the trust has ended, the remaining assets are distributed to your heirs.

Trust may be costly and time-consuming, and if you are planning an estate, it’s a good idea to consult with an estate planning attorney to ensure that you’re creating the best possible plan for your loved ones.

The best type of trust is an irrevocable one. This means that the transfer of your assets to the trustee is permanent. Having the right kind of trust can help you reduce estate taxes. It can also be a good way to ensure that your surviving spouse gets the inheritance he or she deserves.

A good trustee can use discretion to improve the distribution of the trust’s assets. For instance, you can ensure that your daughter gets enough income to support her. The money that the trustee pays for her expenses will not be subject to creditor claims.

Disclaimer: This is not legal advice and is simply an answer to a question and that if legal advice is sought to contact a licensed attorney in the appropriate jurisdiction.

Business Law Attorney Free Consultation

If you have any questions or in need a Trust and Estate Planning Attorney, we have the Best Attorneys in Utah. Please call this law firm for free consultation.

We help you with Trust and Estate Planning, Wills, Trusts, Power of Attorney, Health Care Directive, Estate Administration, Probate and More

When you need a Lawyer, contact this law firm:

Parklin Law

5772 W 8030 S, # N206
West Jordan UT 84081
(801) 618–0699

https://parklinlaw.com/estate-planing/
https://www.parklinlaw.com/

https://parkin-law.business.site/

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Lokasyon: Vernal, UT 84078, USA

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