Westland Trusts Lawyer
Canton Estate Planning Attorney
A trust can be a very important part of estate planning. A properly drafted and funded trust can allow your heirs to avoid probate court, help reduce or eliminate tax liabilities, and delay disbursement of the assets until beneficiaries reach a certain age or milestone, such as obtaining a college degree. A trust is an excellent way of setting up rules and conditions for the dispersal of assets to children or younger beneficiaries. It is important to contact a knowledgeable Westland trust attorney to skillfully assist you with this process.
The attorneys at Clos, Russell & Wirth, P.C., have a great deal of experience drafting and reviewing a wide range of trusts, including:
- Revocable Living Trust: This document is created for the management and distribution of property both during your lifetime and after death. A trust permits the appointed Trustee to manage trust assets even in the event of the disability of the Grantor, without the need for the appointment of a conservator. This type of trust can be modified at any time prior to the trust Grantor(s)/Settlor(s) disability or death.
- Special Needs Trust: These trusts can be complex and must be handled by an experienced attorney. A Special Needs Trust is designed to protect assets left to disabled or mentally ill heirs. This trust exists so the heir has access to the assets but does not lose essential government benefits.
- Cottage Trust: A Cottage Trust is designed to keep a family cottage funded and “in the family” for generations. This type of trust dictates maintenance responsibilities, financial contributions for maintenance and upkeep and provisions for use and enjoyment among multiple family members and multiple generations.
However, just having a trust prepared is not enough. Most lawyers or law firms will prepare the document itself, but leave it to you to fund the trust. A trust that has not been funded, or is not funded correctly, is almost like having no trust at all. Most clients want a trust prepared to avoid Probate Court, however, if your trust is not properly and fully funded, Probate most often cannot be avoided. Our firm will not only prepare an individualized, comprehensive trust that meets your needs and goals, but we will also assist you throughout the process to ensure that your trust is properly funded.
It is also important to periodically review your trust as life situations and conditions are ever changing. If you have an existing trust, we can review it to ensure it is in compliance with current laws, adequately expresses your current intent, is properly funded and that nothing has been overlooked or omitted from the trust.
Finally, our firm is experienced in representing Trustees and assisting in the administrations of trusts. We also represent numerous trust beneficiaries to ensure that they are getting what they are entitled to under an existing trust.
Contact Our Firm
If you have questions regarding creating a trust in Michigan, call 877-354-0660 or contact the office of Clos, Russell & Wirth, P.C., to schedule a free initial consultation. We offer evening and weekend appointments based on the needs of our clients. We accept all major credit cards as payment for services.