Cumming Trusts Attorney
What Is a Trust Fund?
If one of your heirs is a minor or a person of diminished mental capacity, you may want to consider establishing a trust. Trust funds are ideal in situations where the beneficiary of a will requires that another person make his or her financial decisions.
A trust is a relationship that you establish with the help of a lawyer in which one or more people control the property of another — in this case the assets you plan to leave for your heir(s) — for his or her benefit. Trusts are often used when an heir hasn’t reached adulthood but could also be used to benefit the ward in a guardianship arrangement. There are three parties involved in a trust:
- The grantor: The person who provides the assets for the trust fund
- The trustee: The person who manages the assets on behalf of the beneficiary
- The beneficiary: The heir(s) who will receive the benefits of the assets via the trustee
Trust funds are usually composed of liquid assets such as cash or securities, but they can also include other types of assets like real estate, stocks, bonds and items of value. Any property that is included in a trust will not have to go through probate when the grantor dies and instead can be distributed quickly and privately. Depending on the type of trust you set up, you may also receive some tax benefits.
To speak with our experienced Cumming trusts lawyers, give us a call at (770) 574-6688 or contact us online today.
We Know Georgia’s Trust Law
Each state has different laws that regulate trusts, so it is advised that you seek the help of a knowledgeable trust attorney before creating a trust fund. Being a more complicated arrangement, a lawyer can help you understand all the legalities involved and make sure that your wishes are explicitly represented in the trust agreement.
Understanding the Different Types of Trusts
When it comes to estate planning, understanding the various types of trusts available can help you make informed decisions that align with your financial goals and family needs. At Miles Hansford, LLC, we specialize in guiding clients through the complexities of trust creation and management, ensuring that your wishes are honored and your assets are protected.
Here are some common types of trusts we can help you navigate:
- Revocable Trusts: These trusts allow you to maintain control over your assets during your lifetime and can be altered or revoked as your circumstances change.
- Irrevocable Trusts: Once established, these trusts cannot be altered or revoked, providing benefits such as asset protection and tax advantages.
- Testamentary Trusts: Created through a will, these trusts come into effect upon your passing, ensuring your assets are distributed according to your wishes.
- Special Needs Trusts: Designed to benefit individuals with disabilities, these trusts help manage assets without jeopardizing eligibility for government assistance programs.
- Charitable Trusts: These trusts allow you to support your favorite charities while potentially receiving tax benefits.
Choosing the right type of trust is crucial for effective estate planning. Our experienced attorneys at Miles Hansford, LLC are here to discuss your unique situation and help you select the best trust structure to meet your needs. Contact us today to schedule a consultation and take the first step toward securing your legacy.
Why Choose Miles Hansford, LLC for Your Trust Needs?
At Miles Hansford, LLC, we understand that establishing a trust is a significant decision that can impact your family's future. Our experienced attorneys are dedicated to guiding you through the complexities of trust law in Georgia, ensuring that your wishes are honored and your assets are protected.
Here are several reasons why you should trust us with your trust planning:
- Personalized Approach: We take the time to understand your unique financial situation and goals, tailoring our services to meet your specific needs.
- Comprehensive Services: From initial consultations to the final creation and management of your trust, we provide a full spectrum of legal services to support you every step of the way.
- Experienced Team: Our attorneys are well-versed in Georgia’s trust laws and have a proven track record of helping clients navigate the intricacies of estate planning.
- Transparent Communication: We believe in keeping you informed throughout the process, ensuring you understand your options and the implications of your decisions.
- Long-Term Support: Trust management doesn’t end with its creation. We offer ongoing support and advice to adapt your trust as your circumstances change over time.
Let us help you secure your legacy and provide peace of mind for you and your loved ones. Contact Miles Hansford, LLC today to schedule a consultation and take the first step towards effective trust planning.
Our Experienced Cumming Trusts Lawyer Can Help
If you are seeking legal advice about a will or trust, please call our skilled trust lawyers at (770) 574-6688 or email us.
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