Madison Trusts Attorneys
We Treat All of Our Clients Like They’re Family
One of the smarter approaches to estate planning is creating trusts to protect your hard-earned assets. There are many types of trusts that you can include in your estate plan, each with several different purposes. If you own real property, have substantial assets, or want to distribute the trust among your heirs in a certain way, then turn to our esteemed legal team at Estate Law Partners, LLC for reliable guidance.
We have a network of seasoned attorneys who can help determine the trust that will be most beneficial to you. Our trust attorneys at Estate Law Partners, LLC possess extensive experience in this practice area and can provide honest advice on the current trust laws in Wisconsin. Our team stands ready to guide you through the proper legal avenues of trust creation, including the common pitfalls clients usually fall into to ensure a solid, sensible, and legally-binding trust for you and your beneficiaries.
What Are the Advantages of Using Trusts?
Below are some other advantages of creating a trust:
- Allows your beneficiaries to skip the probate process
- Helpful in disability planning or in the event that you become disabled or incapacitated
- Trust executions are private and cannot be made public
To learn more about how a trust can be beneficial to you and your family, please don’t hesitate to consult with our firm at (608) 292-5185.
Types of Trusts We Can Help you Set Up
At Estate Law Partners, LLC, we know that every person has a unique situation and goals when it comes to dealing with their assets and finances. When you come to us for your estate plan, you can be sure that we work with you closely to determine which type of trust is best suits your lifestyles and objectives.
In definition, a trust is where a grantor can place their asset with special instructions on how they want it transferred to their beneficiaries. The execution of a trust is given to a trustee or a third party, who is also responsible for managing and distributing the assets.
The most common types of trusts we help clients set up include:
- Revocable Trusts/Living Trust: A trust that can be modified or even revoked entirely. Assets that were transferred to a trust before your passing cannot be subject to probate.
- Irrevocable Trust: Once an irrevocable trust is created, no one, not even the grantor, can make changes or take the property out of the trust.
- Asset Protection Trust: A type of trust that is designed to protect the grantor’s assets from future creditors.
- Charitable Trust: This type of trust benefits a particular charity, organization, or the public in general and can help lower or even avoid estate and gift tax.
- Special Needs Trust: This type of trust is especially helpful for parents or individuals with dependents who have special needs. It allows the beneficiary to continue receiving government benefits even after the grantor has passed.
Call Now to Get Started on Your Trust
Estate Law Partners, LLC is prepared to utilize our decades of experience in trust creation and estate planning on your behalf. We are well-versed in the current state and federal laws that can affect your assets in the future. Let us help you determine if creating a trust is the most beneficial estate planning approach for you.
Call us today at (608) 292-5185 or contact us online to schedule a consultation with our Madison trusts attorneys.