Trust Lawyer Belgrade, MT
If you’re looking for a trust lawyer Belgrade, MT residents recommend, you’re probably asking yourself a lot of questions. Are your kids going to be protected long-term? Is your spouse protected if something happens to you? What about liability protection? What happens if you end up doing your estate plan and you’re in a family dispute where your family is squabbling over your assets? Nobody wants that to happen when they pass away, and a trust is a great way to protect your assets and your family.
An estate plan consists of various documents, trusts are just a piece of the estate planning puzzle. An estate plan usually includes your will, a health care power of attorney, financial power of attorney, and a living will (which is oftentimes in your health care power of attorney). Sometimes it can also include a trust or a series of other documents such as a Medicaid trust, a third-party trust, or a special needs trust. In a trust, property is transferred to a trustee who manages the property on behalf of named beneficiaries. Trusts can also help direct assets to charities or to protect a disabled loved one after your death. These all encapsulate your estate plan which is your personalized design to take care of your assets when you become incapacitate or you pass away. An experienced trust lawyer in Belgrade, Montana, can help fit all your estate planning puzzle pieces together.
If you need a trust for your family, you can look at it a couple of different ways. A trust is more like a contract, or if you want to think of it like this, it’s like creating a company. The trust is an extension of you, it’s just you’re creating a contract that says, “This trust is being created to hold all of my assets.” It is assigning you as the trustee because you want to control those assets while you’re still alive. If you become incapacitated, then an alternate trustee is elected and put in place because you have already named this person in the trust document. So, the trust is controlling all your assets while you’re alive and have capacity. As soon as you don’t have capacity, or pass away, the new trustee comes in and the new trustee says, “Well, the trust says here is what I’m supposed to do.” And the trustee has a fiduciary duty to do what you’ve directed them to do in your trust. You can create an irrevocable trust, which no longer becomes revocable or amendable, in that you give up control of those assets. That being said, revocable trust is usually the preferred method. You might hear it called a grantor trust if you do a search on the internet.
We as humans are always operating at a fear level. It doesn’t even have to be about estate planning or trusts, it can just be our lives. But that fear drives the way in which we handle our estate plan and we can help alleviate that fear for you! Working with an experience trust lawyer, like the ones here at Silverman Law Office is a great way to get the peace of mind you need. Please stop living in fear because that fear isn’t worth it. Get out of fear, step into this year with a new sense of purpose. It’s not about you, it’s about your family. Take care of them, whether that’s through a trust or other estate planning documents. Our Bozeman office services all of Gallatin County, including Belgrade, Montana. Call our office today to schedule a consultation with one of our trust lawyers!
