We can help you set up trusts as part of your estate plan or asset protection.
As you look to the future and consider what you want to leave for your loved ones, creating a trust might be on your mind. A trust is a legal arrangement in which you (the grantor) transfer assets to a third party (the trustee) to hold and manage for another person or people (the beneficiary/beneficiaries).
Trusts can be useful in a variety of situations, whether you are looking to protect your assets from creditor claims or you want to avoid the lengthy probate process after you pass away. By transferring assets to a trust, they are legally separated from your name and are transferred to the trust’s name. Legally, they are not yours anymore, which protects your assets from creditors.
If you are using a trust to avoid the formal probate process and court delays, you also have the ability to manage the distribution of assets to your beneficiaries, controlling when and how much they receive. Using a trust for this purpose also means your financial records and assets are kept private instead of becoming public record through the probate process.
If you are located in Huntersville, North Carolina and interested in what trusts can do for you, reach out to our firm. At Tarantino Law, PLLC, our attorney can educate you on the different types of trusts, how they can be used, the advantages of each, etc. Contact us today to schedule a consultation.
At Tarantino Law, PLLC, we create trusts for clients throughout the Lake Norman area, including Mooresville, Terrell, Sherrills Ford, Huntersville, Cornelius, Denver, and Troutman, North Carolina.