The Creation And Administration Of Trusts
A trust is an entity that holds assets outside of one’s estate. Properly structured trusts can be invaluable for accomplishing specific goals such as avoiding excessive taxation and setting funds aside for a disabled child or charity. One of the most common uses is to establish a trust fund that delays inheritance until the heir is mature enough to handle the money.
Estate planning attorneys at Palmer Lehman Sandberg, PLLC can help you make effective use of trusts as part of a comprehensive plan for your legacy. We counsel many individuals and couples in Dallas County, Collin County and elsewhere in North Texas, from high net worth clients seeking estate tax avoidance strategies to retirees and modest earners who will benefit from trusts in other ways.
Get Help Making Sound, Confident Decisions About Trusts And Estate Planning
We offer a range of sophisticated solutions, depending on your asset base, your estate tax exposure and other concerns. These include:
- Marital bypass and marital deduction trusts
- Generation-skipping trusts (dynasty trusts)
- Income-generating trusts
- Life insurance trusts
- Charitable lead and charitable remainder trusts
- Trust funds for minor children
Placing assets in trust avoids the probate process. Trust proceeds pass directly to the beneficiaries of the trust. However, many parents don’t want their son or daughter to “come into money” when he or she turns 18. A trust can stipulate the age at which the child inherits or put conditions on the inheritance such as marriage or finishing college. An appointed trustee or professional trust administrator oversees the trust fund until stipulations are met.
Explore The Possibilities And Preserve Your Wealth
Our knowledgeable estate planning lawyers can advise you on revocable and irrevocable trusts, or a combination thereof, to achieve your goals. To arrange a consultation, simply call 214-242-6444 or email our firm.