A trust is a legal agreement that can be used to protect assets from being squandered or taxed, or to protect the eligibility of a trust beneficiary to receive government benefits.
Different types of trusts are designed to accomplish certain goals. A living trust can be used to prevent a vulnerable or imprudent beneficiary from wasting assets, to simplify the transfer of real property, or to avoid probate. A testamentary trust can save certain estates from being taxed, or it can hold bequeathed assets for a younger beneficiary after the death of the grantor. A special needs trust contains assets that would otherwise belong to an individual receiving government benefits, but who would be disqualified from receiving benefits if in possession of those assets. One might also be interested in establishing an irrevocable trust, a family trust, or a child support trust.
Our office can discuss, create, and even administer various kinds of trusts. Currently we offer flat fees for the drafting and execution of trust agreements ranging from $750 to $2500 depending upon the complexity of the trust. An initial consultation is free, however, and can be scheduled by contacting us here.