The law surrounding trusts is complicated. Allow the experienced attorneys of Campbell & Popkin, LLC to aid you in creating and managing a trust that will serve you and the unique needs of your case. Further, we assist trustees appointed after the initial trustee has resigned or passed away. Often, this process can be similar to the probate process, just without court involvement.
Attorney Covering Trusts
Of the many kinds of trusts, the most common are irrevocable and revocable trusts. In an irrevocable trust you relinquish control of your assets during your lifetime by naming a managing trustee. A revocable trust you often manage yourself. The goals and assets of the individual will decide which type of trust is the best option. The purposes of trusts are as numerous as are the forms they take. Many place trusts in their estate plans in order to avoid probate, as both irrevocable and revocable trusts bypass the probate process—the transfer of trust assets to your beneficiaries exists outside of the directives of the will, which makes probate unnecessary.
Privacy and greater control of assets after death are two other benefits conferred by trusts. Because assets placed in your trust don’t go through the probate process, they’re not a matter of public record, and if you pass assets on to your beneficiaries through a trust rather than a will you are able to continue managing the timing of inheritances after your death.