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

Understanding Trusts in Gilbert, AZ

Our skilled attorneys at Walk-In Wills know that estate planning is often complex. That’s why we take the time to explain topics like trust creation using clear and concise language. For people in Gilbert, AZ and surrounding areas, such as Glendale and Fountain Hills, our services can offer immense peace of mind when it comes to your assets and your loved ones.

Types of Trusts

There are many types of trusts to choose from, each of which offers distinct benefits:

Revocable Trusts – Sometimes referred to as a living trust, revocable trusts can be changed after they’re created. These trusts are often employed alongside a will.

Irrevocable Trusts – Irrevocable trusts cannot be changed after they’re created but provide benefits like protection against taxes and creditors.

Special Needs Trusts – These trusts are created to help people who receive disability benefits, as they ensure a person will continue to receive benefits without losing access to their home or other assets.

Medicaid Trusts – Medicaid trusts help with long-term care planning. Similar to special needs trusts, these estate planning tools allow you to keep assets while receiving funds for healthcare.

An attorney can help you choose the correct type of trust to suit your specific estate planning needs.

Benefits of Trusts

There are many advantages to trust creation, including:

The ability to set terms on how assets are distributed to heirs
Financial protection from creditors and taxes
Avoidance of the probate process

Probate is the process of reviewing a will and distributing assets to heirs. Because trusts allow assets to pass directly to heirs after your death, your beneficiaries will avoid the complications associated with probate.

How to Get Started

Not every person needs to include a trust within their estate plan, but they can offer benefits in many situations. If you’re not sure whether a trust is right for you, contact Walk-In Wills today to discuss your situation with an experienced and trusted attorney. Feel free to contact us for more information or call (480) 470-7000 to schedule an initial no-obligation consultation. We look forward to assisting you.

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.