Top Trust Lawyer Phoenix, AZ
When you’re looking for the top trust lawyer Phoenix, AZ clients trust, look no further than Kamper & Estrada, PLLC. Our legal team has always taken the personal approach when it comes to how we practice law. In fact, we are dedicated to the best interests of our clients.
Each Phoenix top trust lawyer from Kamper & Estrada, PLLC is part of a multi-generational law firm that has been recognized nationally for providing our clients with the highest level of integrity and skill.
Why Do I Need a Top Trust Lawyer Phoenix, AZ Trusts?
When many of us think about wills, trusts, and other estate planning topics, we often think that it is only people who are much older who need to consider those things. But the reality is that you are never too young to meet with a top trust lawyer Phoenix, AZ offers. With an established trust, if something should happen to you, your assets and property will go to the people you designate as your heirs.
The Benefits of Forming a Trust
Even if you do not own real estate, you should still consider forming a legally recognized estate plan such as a trust. At Kamper & Estrada, PLLC, we can help you decide which legal options are best for you. We can help you establish a trust to name who should get what possessions of yours after you pass away. For example, you may have heirlooms or precious collections that you want a certain someone to receive because you know they will treasure them.
You can specify in your trust who will get which possessions of yours. You may also have a collection of digital assets that you want to pass on to the right loved ones. Photographs, downloaded music, videos, etc., are all items that become part of your estate. Just as with other collections or mementos, your will can name the family member or friend you wish to pass those items onto.
Our law firm can also assist you in setting up the trust and filing the necessary paperwork. There are various types of trusts from which you can choose depending on your needs. Some of the more common types of trusts we have assisted clients with include:
- Revocable living trusts;
- Irrevocable trusts;
- Grantor trusts;
- Retirement trusts;
- Insurance trusts;
- Minors’ trusts; and
- Generation-skipping trusts.
In addition to wills and trusts, our firm can also help parents with young children draw up guardianship papers. It is critical for parents to name a person before they die of who they would want to raise their minor children. If they don’t, the courts may make that decision and it may not be the choice that they would have made for a guardian. We can also assist in drawing up powers of attorney, healthcare directives, and Health Insurance Portability and Accountability Act authorizations.
Let a Top Trust Lawyer Phoenix AZ Residents Depend on Help
If you would like to speak with a top trust lawyer in Phoenix, AZ, contact our firm to discuss your all your estate planning needs.
Call a top trust lawyer Phoenix, AZ turns to from Kamper & Estrada, PLLC today to set up your free consultation.
How Is a Pour-Over Will Used in Conjunction with a Living Trust?
A top trust lawyer in Phoenix, Arizona can help you protect your legacy and make sure that your heirs have a clear and legally protected understanding of your final wishes. Regardless of your financial circumstances, you can feel confident that a trust lawyer from Kamper & Estrada, PLLC will protect your best interests. Whether you have decided to create a will, living trust, or both, we can handle all of the legal details on your behalf. We offer a wide range of estate planning services and can help you choose which are best for your needs. Give us a call today to arrange a visit with a friendly trust planning lawyer who can put you at ease and make the process as painless as possible.
What is a trust?
There are several options for trusts, and each one is intended to serve a different purpose for the trustor (creator of the trust). A top trust lawyer in Phoenix, AZ from Kamper & Estrada, PLLC will be pleased to review them in more detail as you wish. Here are some of the most common choices for Phoenix AZ residents when it comes to trusts:
- A children’s trust created for the trustor’s minor-aged children. Assets transferred into the trust prior to the trustor’s passing make it possible for the trustee (the manager of the trust and who may also be the trustor) to control and manage the assets in their lifetime. After their passing, their designated trustee or secondary trustee will manage the assets until the minor-aged children reach adulthood.
- A bypass trust that will minimize the amount of estate taxes after the trustor’s passing.
- A life insurance trust that will allow that estate to avoid paying taxes on any proceeds it gains from a life insurance payout after the trustor’s passing.
- A charitable trust that will distribute designated assets to a specified charity.
- A living trust that manages and distributes the trustor’s assets in place of a will and thereby avoids taxes and the probate process.
What are inter-vivos and testamentary trusts?
Trusts fall into one of two categories: inter-vivos or testamentary. They are defined as follows:
- Inter-vivos: created when the trustor is still living.
- Testamentary: created in a will only after the trustor has passed away.
What is a pour-over will?
A pour-over will is most commonly associated with a living trust. A living trust is only applicable to the assets contained within it that were transferred into the trust when the grantor was still alive. Any assets that were not transferred into or included in the living trust can be handled by the pour-over trust. Though it is preferable to include all of one’s assets in the living trust, there may be situations in which this is not possible. For example, if the trustor falls ill unexpectedly or perishes in an accident, any assets that had not yet been transferred will be handled by the pour-over will. Another key purpose for a pour-over will is to designate guardians for the trustor’s minor-aged children since this cannot be done in a living trust.
Can A Trust Be Drafted for a Personal Injury Settlement?
If you were the victim of an injury accident, the resulting settlement you receive may be substantial. Generally speaking, the more severe the injury (and if the circumstances surrounding the accident merit it), the more compensation the victim will receive. One of the services provided by a top trust lawyer Phoenix, AZ residents recommend is the creation of a personal injury trust for victims to manage their settlement funds. A trust is an attractive option for many people because of the advantages it offers, including providing the individual with an effective tax shelter for those funds. As a top trust lawyer in Phoenix, AZ, our firm is a particularly good choice for helping members of the Phoenix community with managing their settlement award, because we are also a personal injury lawyer. In fact, if you give us a call you can request a free consultation with our trust lawyer to discuss your case and learn more about the legal services we provide and which can be of enormous benefit to you. The information you share during the consultation will be kept in the strictest of confidence.
Understanding the Nature of a Personal Injury Trust
After a personal injury lawyer negotiates a settlement for their client, the funds that remain after paying the lawyer fees and other legal costs, the recipient may choose to transfer those funds to a personal injury trust. The individual who creates the trust with the assistance of their trust lawyer is known as the settlor. In addition,
- The personal injury trust stores, secures, and manages the funds from the settlement.
- The settlor will either designate two designated trustees or a corporation to oversee the personal injury trust. One of the trustees can be the settlor though this is not required. However, when the settlor is a trustee, it provides them with more control over the trust.
Common Personal Injury Settlements Associated with Trusts
Nearly any personal injury case can obtain a settlement and a trust, if the amount of compensation warrants it, regardless of the nature of the accident that caused the injury. However, as a top trust lawyer in Phoenix, AZ might explain, some types of personal injury accidents are more common than others when it comes to forming the basis for a personal injury trust. These include:
- Car accidents
- Medical malpractice and clinical mistakes
- Defective product
- Exposure to toxic or hazardous materials
- Harm as a result of a criminal act such as battery
The Primary Benefits of Creating a Personal Injury Trust
During a consultation with a top trust lawyer in Phoenix, AZ, you will have a clearer understanding of how a personal injury settlement trust may be of benefit to you, both in the short and long term. The primary benefit is the protection it offers to victims who are young, elderly, or mentally/emotionally disabled. When chosen with care, the trustee of the personal injury trust can be a tremendous resource in terms of making informed and thoughtful financial decisions on behalf of the recovering accident victim. This is especially valuable when the victim does not have the ability to make the decisions that are the most advantageous for them.
To learn more about your estate planning options and what will best reflect your needs, contact Kamper & Estrada, PLLC to schedule an appointment with a top trust lawyer Phoenix AZ clients recommend and learn how we can help your family.
Call us today to speak with a respected top trust lawyer in Phoenix, AZ and discuss your case at no charge to you.
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