Depending upon a client’s individual or family needs, establishment of a trust may be desirable and recommended. In order to safeguard the best interests of a disabled child or elderly parent, an irrevocable trust may be the mechanism to offer financial support and assistance while preserving eligibility for federal and state programs. Funds placed in an irrevocable trust may be used only as the trustee instructs during the lifetime of the beneficiary. Thereafter, the funds will be distributed as noted in the trust.
In addition, a revocable or irrevocable trust offers asset privacy while avoiding probate. Our attorneys will be able to assist in determining the necessity of a trust and will prepare the right trust for you.