Irrevocable Trusts
Our office provides families with several types of irrevocable trusts for estate planning needs.
They include:
- Standard irrevocable trusts
- First party special needs trusts
- Third-party special needs trusts
- Irrevocable life insurance trusts
- Qualified personal residence trusts
- Charitable lead trusts
- Charitable remainder trusts
- Family trusts
- Dynasty trusts
- Medicaid income-only trusts
- Qualified income trust
As you can see, multiple types of trusts exist for your estate plan. In some instances, a trust acts in several of the ways listed above. Also, you may wish to combine the aspects of these trusts with common revocable trust and business entity formations. Additionally, protecting your assets, your family, and your legacy can involve multiple steps and requirements.
Your family may not need a trust. However, you may find yourself in a situation where it can help assist you and your loved ones. Also, understanding trusts provide just one piece of the puzzle in your estate plan. However, a comprehensive estate plan not only looks at trusts but how your wills and powers of attorney work alongside it.
When considering creating a trust, we meet with you and discuss your goals and objectives. Also, it may not require a trust. In others, we discuss the necessary steps in order to help protect your legacy and your loved ones.