Kansas Trust Attorneys
When you think of estate planning, you might immediately think of a last will and testament. However, there are several other legal tools you can use to ensure you have a comprehensive estate plan that is effective for your specific circumstances. One common tool is a living trust.
While trusts can be highly beneficial for many people and families, they are also complex legal documents that must meet certain requirements to be enforceable. Always seek assistance from a Kansas trust lawyer from Vinton | Moore, Attorneys at Law, if you want to learn about your estate planning options.
Potential Benefits of Having a Trust
If you pass on property through your last will and testament, the probate court will oversee this distribution. Probate can be a difficult and stressful process for your family, especially when there is significant property involved. If you hold property in a trust, it can be distributed independently from the probate process with no court intervention. This can help your family as they are processing your estate while grieving their loss.
Further, a trust grants you greater control over how your property is distributed. With a will, the executor of your estate must distribute all your property at once at the end of the probate process. This might not be preferable for minor children or beneficiaries who might not handle a lump sum responsibly.
With a trust, you can create detailed instructions on how you want the successor trustee to distribute the trust property. This might include requiring children to finish college or professional degrees before they get their inheritance. You might choose to have smaller distributions over time, reducing the chances that a beneficiary will spend all their money at once. You can get creative with your trust instructions.
Some trusts might have other benefits, as they might help protect assets from creditors, provide support for beneficiaries with special needs, contribute to charities, and more. Our trust attorneys at Vinton | Moore can help determine the right type of trust for your situation.
Steps to Create a Trust
Our legal team can navigate the entire process of creating a trust, including:
- Identifying the beneficiaries you want to include
- Designating a successor trustee who is willing and able to fill the role
- Designing your trust instructions
- Drafting a trust document that reflects all of your wishes and is legally effective
Are you a trustee facing allegations of breaching the fiduciary duty or other misconduct? Have beneficiaries filed legal action against the trust? Are you a beneficiary who believes a trustee has engaged in misconduct?
If so, you need legal representation from a trust lawyer immediately. These cases are complicated and can have costly effects - and sometimes, trustees might be personally liable for the losses of beneficiaries. Protect yourself with a lawyer who assists with trust administration issues.
Discuss Your Options with a Kansas Trust Lawyer
Vinton | Moore, Attorneys at Law handles all matters related to trusts and trust disputes. We can examine whether you and your family can benefit from a trust and help create your trust as part of your overall estate plan. Contact us today for more information.