Trusts & Elder Law Planning

The role of trusts in estate planning today is incredibly important. They serve as a smart and flexible way to manage assets, protect them, and ensure that wealth is passed down according to what someone actually wants.

Using trusts in estate planning:

• Allow individuals to avoid probate, which can be a slow and costly court process. Beneficiaries can get their assets quickly and without the public scrutiny that comes with probate.
• Provides strong asset protection. For instance, irrevocable trusts can protect assets from creditors, lawsuits, and government claims, such as Medicaid, helping to maintain the estate’s value for future generations.
• Provides significant tax savings benefits.
• They cater to a wide range of needs, from preserving wealth and planning for taxes to protecting vulnerable heirs.

Working with knowledgeable estate planning attorneys ensures trusts are set up correctly, providing maximum advantages and peace of mind for clients and their loved ones. Trusts continue to be a fundamental element of modern estate planning, highlighting the ever-evolving complexities of managing assets and preserving legacies.

You are never too young to make an estate plan or take steps to address your potential medical needs. It’s important to consider these valuable tools when you have a child, if you receive a serious medical diagnosis, when you have significant assets, and in other such situations.

Learn how Elder Law Planning can help with:

• Long-term care planning, estate planning & challenges of aging.
• Qualifying for Medicaid.
• Protecting your assets from fraud, unnecessary taxes & more.

. . . And how Trusts can offer:

• Asset protection.
• Privacy by keeping financial matters confidential.
• A way to provide guidance for individuals with special needs.