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Do I Need an Attorney When Establishing a Trust?

Do I Need an Attorney When Establishing a Trust?

Setting up a plan to avoid the probate process is something many people don’t know how to do on their own, and while research can give you a few good ideas, it’s still really easy to make a mistake. Trying to formulate your own estate plan without having someone on your side who’s experienced with this complex and meticulous type of law is asking for trouble, and trouble can spell all sorts of headaches for your loved ones as well as heavy asset losses for your estate through the probate process.

If you want to avoid the probate process and ensure your loved ones are cared for in the future, it’s strongly advised you have a Jackson estate planning attorney on your side. There are many benefits to doing so and while you may think the investment is a waste, the benefits and peace of mind that comes from knowing your future and the future of your estate is properly secured well outweighs the costs. Here are a few reasons why you should have an attorney when creating a living trust.

Lawyers Can Handle Complex Situations

Basic living trusts are not all that hard to handle: you simply use some regular legal boilerplate (standard, off-the-shelf language), add in the appropriate names in the right slots to name yourself as the trustor, name your trustee, and then add the terms for distribution. However, this only really works for those who don’t have any significant investments, business assets, or other assets that have a complex ownership scheme. If you have a tricky or complicated situation, then odds are you’re probably going to want to have an attorney help you formulate your trust because of the extensive amount of appropriate language you’ll have to set up in order to ensure your assets pass on as you’d like and still avoid the costly probate process.

Lawyers Assist Beneficiaries

Having a lawyer help you create an air-tight trust can ensure that your wishes are set and ready to go for when you pass away. However, no matter how secure your trust may be, your loved ones can expect to face some opposition and difficulty. Having a lawyer help you execute the trust can ensure everything is properly handled and that difficulties are overcome quickly and effectively. This is even more possible if the same attorney who helped you create the trust also helps you execute it later—they’re familiar with your best wishes, they know your goals, and they can assist your family with any of the legal issues that may arise.

Don’t hesitate to reach out to a Jackson estate planning attorney from Shows & Smith Law Firm, PLLC if you need assistance with creating a solid, air-tight living trust as part of your estate plan. Call us today at (601) 809-4144 for a case evaluation.
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