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4 Key Benefits Of Having Your Estate Attorney Set Up A Trust

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4 Key Benefits Of Having Your Estate Attorney Set Up A Trust

Planning your relative’s estate can be a difficult and emotional topic.

This difficulty, along with the amount of legal understanding involved make it necessary for you to hire an estate attorney.

When you contact an estate attorney, make sure to have them put together a trust. Forming a trust is one of the best ways to handle an estate, and estate lawyers are the most qualified to put them together.

If you’re on the fence about this and want to learn why you should have an attorney set up a trust, start with these four points below.

Your Estate Attorney Can Help You to (Legally) Avoid Taxes

One of the foundational principles of wealth is minimizing taxes whenever you can.

This remains every bit as true when dealing with handling an estate. You’ll want to avoid heavy estate taxation when getting an inheritance so that you can use the money however you need.

That’s where an estate attorney comes into play.

These lawyers will help you to shield the estate from taxes. They will first and foremost take an all-encompassing look at the estate and then determine how much tax liability you owe.

From here, they’ll work diligently to reduce the tax bill altogether.

Helps Prevent Litigation

While going through the estate process is also matched with grieving, it’s important to know that it’s not uncommon to get sued during this time.

People might contest the delegation of a will, which leaves you open to months or years of more litigation.

When you have an estate attorney put together a trust for you, the likelihood of having it contested is dramatically reduced.

Hashing out the legal matters on the front end in the form of a trust makes the important details ironclad and much harder to contest.

You Will Get Your Inheritance Faster

The last thing you would want is to have your inheritance tied up as the details are hashed out.

When you have a lawyer a trust, the inheritance process is streamlined, which is good for you and everyone with a claim to the estate.

This is especially important if you plan to invest your inheritance or otherwise use it.

For instance, many people use their inheritance to pay off student debt, open their own company, invest in stocks and other investments or become a homeowner for the first time.

Your lawyer will also be able to advise you on these matters of investment and the implications that come with each option. They can also point you toward financial experts in their network that can be helpful.

These Documents Are Of Life Changing Importance

Because these legal matters literally change the course of lives, it doesn’t make sense to go about them alone.

Having an attorney on your side that handles estate trusts lessens the burden tremendously. This is why estate attorneys like Audrey Rhodes, of Rhodes Law Firm, PC, work diligently to create these trusts.

If you’re interested in a trust and don’t know where to start, get in touch with us today.

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6 Comments

  1. Elsa Anderson says:

    My parents are thinking of making an estate plan, but know very little about it. They would like to hire an estate lawyer, and I had no idea there were so many benefits! I like that you say having a lawyer can ensure that you have a legal and error-free plan. This will really help my parents feel less stress! Also, I agree that the plan may need to be updated throughout your life, and your lawyer can help with that as well.

  2. Millie Hue says:

    We’ve been paying for the house tax of my grandmother ever since she died. And it’s relieving to know that hiring an estate attorney could lessen the tax legally. We’ve been dealing with this on our own, and I think it’s time to suggest to my whole family to consider getting an attorney for everyone’s sake. Thanks!

  3. Earnest Watkins says:

    I thought it was helpful how you pointed out that hiring a lawyer to help you write your will can help reduce the chances of it being contested. This is good to know since I’d like to get my will written in the near future. I wouldn’t mind looking into hiring a lawyer to help me write the will so it doesn’t get contested upon my passing.

  4. Joy Butler says:

    My favorite part of this article is when you mentioned that with the help of an estate lawyer, getting the inheritance is a bit faster. My dad is already sick for I think almost two years now. Last week, he’s asking my mom to look for an estate attorney who’d help him in making his last will and testament.

  5. Rosie Beckett says:

    My parents are thinking of hiring an estate planning attorney to help them with their will and trust, so I appreciate that you wrote this article. You make a great point that your attorney will help to prevent litigation and this will help my parents avoid drama and legal issues. Also, the fact that an attorney can help my parents to reduce their taxes is a huge benefit because hiring an attorney can actually save them money in the long run.

  6. Joy Butler says:

    I haven’t even thought about setting up a trust. Me and my husbands are nearing our 60’s, which isn’t that old but it might be time to have arrangements just in case. I think it’s important that my children get their inheritance fast so they can put it to great use. I know they could all use it.

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