If you want to set up a trust, you may want to consult with best trust lawyers Phoenix AZ residents recommend. At Kamper Estrada, LLP, we have helped many people create trusts and want to make the process as simple as possible for you. With an experienced lawyer on your side to assist you with your trust, you may have a better peace of mind.
Benefits of Setting up a Trust
By now, you likely are aware of how important estate planning is. You want to ensure your assets go to the right heirs upon your death. But is it better to set up a will or trust? Living trusts are less common than wills, but they can provide some wonderful benefits.
- Probate Isn’t Required: As best trust lawyers in Phoenix AZ can attest, one of the main benefits of a living trust is that it does not have to go through a probate process. This means your heirs will not have to wait months or years to receive their assets. In fact, they can obtain their assets within weeks.
- There Is More Privacy: If you are a private person, a living trust may be your best option. Unlike a will, a living trust is not made public when you die. You won’t have to worry about strangers finding out information about your assets. Your estate will be distributed in private, so your family will be free from disturbances.
- Your Heirs Can Save Money on Taxes: Setting up a living trust can also help your heirs avoid paying an inheritance tax, as best trust lawyers Phoenix AZ clients count on can explain. This allows your heirs receive the full gift you gave them.
- It Can Provide Funds for Educational Purposes: With a trust, it is also possible to provide money for college to your children, grandchildren, and other relatives, as best trust lawyers Phoenix AZ residents respect can confirm.
- It Allows Flexible Distribution: If you set up a trust, you have more flexibility on how your assets will be distributed upon your death. For example, if a beneficiary is unable to manage money well, you could distribute the funds in smaller amounts. This way, he or she will not be able to spend the money all at once.
- There Are Fewer Family Feuds: Best Phoenix trust lawyers can tell you that setting up trusts often eliminate family feuds. Living trusts are more customizable than wills and allow you to detail the exact items you want to give to each beneficiary. If it is clear who gets what, there will be fewer arguments.
At Kamper Estrada, LLP, we understand how overwhelming the estate planning process can be. That is why we want to help you with every step of the way. Our best trust lawyers Phoenix AZ clients rely on may work hard to set up a living trust for you.
If you are searching for best trust lawyers Phoenix AZ offers, contact Kamper Estrada, LLP at 602-230-1234.