Trusts are a way to help preserve an estate for your beneficiaries. Attorney Robert F. Brogan, President of the Brogan Law Group, has helped many clients set up living and testamentary trusts to manage assets and property before and after death of the grantor who initiated the trust.
Keep Your Estate Out of Probate
It is important to have your trusts set up by a New Jersey Trusts Attorney so that your wishes are followed. If there is a problem or if you do not have a trust, your entire estate and assets may end up in probate, where the court assigns management and disposition of your estate to another person called a trustee. The problem here is that that person may have no knowledge of your wishes or what property you wish to designate to certain beneficiaries. By having a legally correct trust set up, time and money are saved, and you can reduce a tax burden on your estate and heirs.
Living Trusts and Testamentary Trusts
With revocable living trusts, you can be the trustee of the estate and change the trust any time while you are still alive, or revoke it. When you do pass on, the trust continues under the trusteeship of another person you may designate. This keeps the estate out of probate, saves money and gets your assets and property transferred to your heirs faster. A testamentary trust will come into effect when you die and your trustee will take over on your behalf, acting in the best interests of the estate.
Protect Heirs with Trusts
Trusts are very useful if you have a large estate and minor children or a family member with special needs. You can set it up so that the children receive their inheritance at a later time or in partial amounts over time. A trust can use assets to pay for maintenance of property for a set period of time or indefinitely. You want to use a New Jersey Trusts Attorney to ensure that your trust documents are properly prepared and submitted for approval by the probate court.
Guiding Your Family Through Life’s Changes
Attorney Robert F. Brogan and others at the Brogan Law Group, specifically Associate Mellissa Abu-Adas and Michael Paxton (of counsel) are happy to sit down with you and discuss the merits of having a trust or other legal documents to aid in your long term estate planning. To determine if you need a trust to protect your assets and estate for future generations, contact the Brogan Law Group in Point Pleasant, NJ, today.
Call 732-701-9999 to set up your appointment with our New Jersey Trusts Attorney.