Albuquerque Trust Preparation Attorney

When most people think of estate planning, they think of creating a will. While helpful, a will is the most basic type of estate planning tool. If you want to enjoy considerably more protections than what a will can offer, such as privacy, tax breaks and protection from creditors, among other benefits, retain our compassionate and knowledgeable Albuquerque trust preparation attorney for helping building a trust that will meet your unique estate planning goals.

What Is a Trust?

Though there are several different types of trusts designed to serve different purposes, a trust, in the most basic sense, is an estate planning instrument that allows one party (the “trustee”) to hold the legal title to assets on behalf of another (the “beneficiary.”) The purpose of a trust is multifaceted. Below are a few things you can do with a trust:

  • Aid in the management and distribution of your estate should you become incapacitated or pass away
  • Help your loved ones avoid the costly and lengthy probate process
  • Dictate when and how your assets will go to their rightful heirs
  • Save your beneficiaries from having to pay court fees and estate taxes
  • Protect your assts from court judgements, settlements and creditors
  • Direct where your assets will go in the event that one beneficiary passes away before the administration of your estate.
  • Protect the financial and emotional well-being of your minor children should such protection become necessary

To enjoy all the benefits that a trust can offer, it is important that you work with a trust preparation attorney who has the patience, knowledge and resources to help you draft a robust estate plan and avoid unintended consequences.

When Do You Need a Trust?

Every person needs an estate plan, and not just the elderly and wealthy. However, while trusts are invaluable estate planning instruments, they do not make sense in every situation. Our trust preparation lawyers may advise you to create a trust in the following circumstances:

  • You have minor children
  • You have one or more beneficiaries who are incapacitated, incompetent or spend thrift
  • You want to retain some control over how and when your assets get distributed
  • You are involved in a second marriage and/or have children from separate marriages
  • You own a business
  • You amassed considerable wealth in your lifetime

In addition to advising you on when to use a trust, our trust preparation attorney can also guide you toward the right type of trust for your specific needs. The two broadest categories of trusts are revocable and irrevocable, but within each of these categories you can create very specific trusts, such as an asset protection trust, charitable remainder trust, pet trust, generation skipping trust and qualified terminal interest trust, among others.

How Can a Trust Preparation Attorney Help You?

At Walk-In Wills, our Albuquerque trust attorney has the knowledge and resources to help you identify and map out your exact estate planning needs. We want you to have the most robust and complete estate plan possible, which we do by providing personalized and exceptional legal services. Also, because we believe in forming life-long relationships with our clients, we make ourselves available to assist with changes, answer questions and provide guidance whenever the need should arise.

Though our legal team provides estate planning advice and assistance, our real objective is to grant clients peace of mind.

If you want to rest easy knowing that your estate and loved ones are taken care of when you are gone, call Walk-In Wills at (505) 903-7000 to schedule your free, one-hour consultation.

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