Hurricane, UT Trust Lawyers

At ProvenLaw, our Hurricane trust attorneys are here to assist you in creating a trust that is suited to your particular needs and to ensure that your future, and the future of your family, is safe. Contact us today to find out how establishing a trust can help protect your assets and spare your loved ones from heartache.

What is a Trust?

A trust is a legal agreement where the person who puts property into that agreement (the trustor) places it in the care of a separate person or institution (the trustee), who holds and manages the assets on behalf of another person (the beneficiary). 

Trusts are commonly used to pass on your assets after you die and help to ensure that the transfer happens in the way you want it to, often avoiding the need for probate and reducing taxes where possible. A trust gives you more control over your assets because it can hold and manage them both while you are living and after your death, whereas a will only becomes effective after your death.

A trust can be tailored to a specific cause. For example, it could be used to safeguard property, care for young children, or sustain an adult child with special needs for the rest of their lives. Trusts have many uses, but due to their narrow scope and legally specific language, it is strongly recommended that you consult with our experienced Hurricane trust lawyers who can better understand your goals and make sure your trust satisfies all your requirements while upholding its legal integrity.

Advantages of Trusts

Setting up a trust is a positive way to go for several reasons that are beneficial to you and your beneficiaries: 

• Avoiding probate: A trust can be a valuable tool in bypassing the probate process. This can be a time-consuming and expensive process that can cause a lot of stress for your family members. Yet, this is something you can prevent by putting assets into a trust so that they can be distributed swiftly and without the need to go to court.
• Privacy protection: While wills become public records when they are probated, trusts remain private. This means that your assets will be transferred to your beneficiaries without public scrutiny.
• Asset protection: With a trust, your assets are in the hands of a third party trustee, so they are no longer technically “your” assets and therefore protected from creditors, lawsuits, and other threats. If you have a high net worth or are exposed to such threats, a trust can offer an additional layer of protection for your assets.
• Control over distribution: With a trust, you can mandate precisely when, how, and where your assets are distributed, which is great if you have beneficiaries who are minors, have special needs, or aren’t yet fully responsible with their money.
• Continuity of management: If you become incapacitated, your assets will still be managed by a trust, so a court will not have to appoint a guardian to manage your finances.
• Flexibility: Trusts can be tailored to almost any goal, and are modifiable or revocable under some circumstances.

Our Hurricane trust lawyers at ProvenLaw can further explain the benefits of trusts and discuss the one that’s right for your estate planning needs.

Types of Trusts

There are various types of trusts available, each designed to serve a different purpose. Some of the most common types of trusts include:

1. Revocable Trust
2. Irrevocable Trust
3. Special Needs Trust
4. Charitable Trust
5. Testamentary Trust
6. Spendthrift Trust
7. Generation-Skipping Trust
8. Life Insurance Trust
   And More!

Understanding which type of trust is best for your situation can be complex, but our team is here to help you navigate the options and choose the right trust for your estate.

How Our Hurricane Trust Lawyers Can Help

At ProvenLaw, our Hurricane trust lawyers want to help you build your legacy and protect your assets while helping your family avoid probate and the hassle and expense attached to it. We will design a trust that is customized to you and your specific needs and goals so that your family’s future is secured. To begin the process of creating a trust that will provide you and your loved ones with peace of mind and benefit them both now and in the future, contact our offices to arrange a free consultation.