Why You Should Consider the Benefits of a Trust

If you are thinking ahead about accomplishing your estate planning in New Jersey, a trust is one of the most popular tools used to accomplish your goals. There are many different types of trusts that could apply for your individual situation and selecting the right one can be done after you meet with a New Jersey estate planning attorney to walk through your options. Trusts can be a great way to retain some control over assets you plan to pass on to people over the course of your life or after you pass away.

It is important for the attorney to understand your circumstances as well as your goals before recommending an appropriate trust. Trusts can be used for all of the following reasons:

  • Reducing taxes
  • Planning ahead for incapacity
  • Avoiding probate
  • Handling property held out of state
  • Providing for minor children
  • Protecting your assets from creditors

Your specific goals will help to determine which trust, if any, is appropriate for you. Consulting with an estate planning attorney who has experience in putting together numerous types of trusts for clients is your best option when trying to figure out the most appropriate tactics for you.

Your individual estate planning needs can be thoroughly evaluated by a knowledgeable New Jersey estate planning attorney. A trust can be a significant component of your overall estate plan. So do not hesitate to get legal advice on this issue as soon as possible.