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

All About Mesa Trusts for Estate Planning

It’s true that a last will and testament is a significant aspect of estate planning. However, wills are not the only estate planning tool at your disposal. Here at Walk-In Wills, we encourage our Mesa, AZ clients to explore trusts and their benefits to ensure a comprehensive estate plan.

Are There Different Types of Trusts?

When it comes to estate planning, you may consider one or more of the following trusts:

  • Revocable – Revocable trusts can be changed by you during your lifetime, which offers quite a bit of flexibility.
  • Irrevocable – Irrevocable trusts cannot usually be changed after creation, but they offer benefits when it comes to taxes and creditors.
  • Special Needs – A special needs trust ensures that any disabled people in your care have access to essential funds after you die.
  • Charitable – Charitable trusts allow you to leave assets to charities you’re passionate about.
  • Spendthrift – A spendthrift trust lets you specify how an heir should receive their inheritance (e.g., incremental payouts instead of one lump sum).

Once you choose a specific trust, you must take the proper steps to initiate it. For instance, you’ll need to fund the trust with your assets, a process which can vary according to the type of asset you’re including.

How Will You Know If a Trust Is Right for You?

There’s a misconception that trusts are only suitable for the ultra-wealthy. In fact, trusts can benefit people with fewer assets depending on their unique situation. You may consider a trust if:

  • You own a business
  • You want to have greater control over how heirs receive funds
  • You’re currently caring for a disabled person
  • You have children from a previous marriage

If you’re not sure whether to include a trust in your estate plan, our attorneys can review your situation and provide insight into the matter.

Where Can You Find Help with Trust Creation?

When the stakes are high, you must have reliable assistance when creating your estate plan. Fortunately, Walk-In Wills offers the benefit of more than 20 years of experience. We also aim to make the estate planning process as smooth as possible.

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.