Contact Walk-In Wills today for help with will and trust creation, probate, long-term care planning, and other essential estate planning needs.

Grantor of Trust in Chandler, AZ

Trusts often play a major role in estate plans, particularly among people with more complex situations. Accordingly, it’s important to understand what this estate planning tool entails in order to make the best decisions for your assets and your family members.

Here at Walk-In Wills, our skilled yet compassionate attorneys have experience with all types of estate planning situations. That means we can help you understand what trust creation involves, as well as determine whether this estate planning tool is right for you.

What Does the Grantor of a Trust Do?

The grantor of a trust is the person who initially creates the trust. In the majority of cases, this is the person whose assets are placed within the trust. The grantor may also be referred to as the settlor or trustor. You may elect to create a trust for lots of reasons, such as:

  • You want to have greater control over how assets are dispersed
  • You want to pass assets to heirs without going through probate
  • You don’t want your assets to be part of the public record
  • You want protection from creditors and taxes when passing assets to heirs

Our trust creation attorneys can help you determine whether this estate planning tool makes sense for your situation. We can also help you choose the best type of trust for your needs.

What Is a Trustee?

The trustee is the person who carries out the terms of the trust. In some cases, the grantor and trustee may be one and the same, with a successor trustee named to take over when the grantor is no longer able. In other cases, the grantor would name another person to act as trustee. This is typically true when creating an irrevocable trust, which can’t easily be altered by the grantor.

Who Should You Choose to Serve as Trustee?

When picking a person to manage your trust, you must answer the following questions:

  • Does the trustee have the time to devote to the many trust-related tasks?
  • Is the person responsible in their daily life? Are they well-organized and motivated?
  • Does the person have a good grasp when it comes to money and fiscal responsibility?

By selecting a person with the right qualifications, you can rest assured that your assets will be in good hands.

How Can You Get Started?

If you believe trust creation is right for you, please contact an attorney at Walk-In Wills today. Our lawyers assist clients throughout Gilbert, AZ, as well as surrounding areas like Casa Grande and Scottsdale.

Schedule a free consultation at our office today by calling (480) 470-7000. You can also contact us to learn more about our firm and what we can do for you.