Many people opt for creating trusts so their loved ones can receive their inheritance without going through the probate process. When one is setting up a trust, it behooves them to work with a Will and Trusts Lawyer Davenport IA so they can ensure no problems will arise in the process of their loved ones collecting from the trust either while they are living or after their death. A lawyer will help a person through each stage in the process so it is less stressful.
A Will and Trusts Lawyer Davenport IA helps a person set up a trust in their name and allows them to choose a trustee to be in charge of the trust. One can name anyone as their trustee and some people even name their lawyer so they can have a third-party trustee that will be able to carry out their duties without a vested interest clouding their judgment.
People need to hire a trust lawyer when:
They want to leave their loved ones with an inheritance but they do not want them to have to deal with the long process of probate.
They want to lower their estate taxes and allow their family to receive as much of the inheritance as possible without it being reduced because of taxes.
They want to be in control of when their beneficiaries will receive the inheritance left for them in the trust. This is especially beneficial for minors who may not need to inherit their inheritance until they are adults.
The process of meeting with a Will and Trusts Lawyer in Davenport IA is relatively straightforward. It is important a person is properly prepared for providing their lawyer with information on their assets and those they want to be their beneficiaries. It is also important a person comes prepared to name their trustee. After all of the paperwork has been drawn up, the client will be given a chance to review it and make any changes. Working with a lawyer ensures a person’s assets will go to the ones they want them to when they want them to receive them.
If you would like legal help in setting up a trust, contact David J Franks Attorney-at-Law. His staff will be happy to schedule you an appointment with the lawyer so you can discuss your needs.