Do you have reason to believe that creating a trust would be in your best interest?
There are many reasons to consider this option as you create an estate plan. As long as you understand the finer details, as well as the pros and cons, you can make an informed decision that will benefit you and your family in the long run.
Of course, there’s one thing you need to do right away: touch base with an experienced Indianapolis trust attorney.
It’s easy to believe that you can create a trust on your own. This is particularly true in today’s day and age of advanced technology. While you may take a closer look at Do-it-yourself trust creation software, you’ll soon find that it doesn’t provide the high level of service that you need to feel confident about your decision.
When you work closely with an attorney, you know that all your questions will be answered in a timely manner. You also know that there is somebody on your side who can always provide you with the guidance you require
Something else to consider is this: your attorney will ensure that your trust works in harmony with the rest of your estate plan.
Ask these Questions
Now that we have all that out of the way, let’s examine some of the many questions that you should ask your Indianapolis trust attorney. These aren’t the only things you can ask him or her, but these questions are definitely among the most important:
- What type of trust is best for somebody in my position?
- Can you explain the many types of trust, including the pros and cons of each one for somebody in my shoes?
- What is the first step in creating a trust?
- What assets should I add to my trust? Does it make sense to leave some of them out of the trust?
- When do I need to choose a trustee?
- When do I need to choose a beneficiary?
- Do you have any advice for choosing a trustee and beneficiary?
- Is it possible to alter my trust in the future?
- Can you help ensure that my trust doesn’t get in the way of the rest of my estate plan?
- How long does it take to complete the process?
- How much does it cost to create a trust?
- What benefits does a trust provide me during my lifetime?
- What benefits does a trust provide my family after I pass on?
As you can see, there are many questions to ask as you consult with a Indianapolis trust attorney. These are among the most important, but remember this: others are sure to come to light as your conversation moves forward.
It’s hard to imagine a situation in which you would have to address these questions on your own. That’s exactly what happens when a person attempts to create a trust without the help of a knowledgeable legal team.
If you have any questions about creating a trust, if you need some guidance to get started, you can join us for a free seminar in the near future. During these events, we take great pride in providing the audience with advice related to a variety of estate planning topics, including trust creation and administration.
It’s never a bad idea to meet with a trust attorney to discuss your situation. Call us at 317-684-1100 to schedule a free consultation. Even if you don’t end up moving forward, you’ll still have a better idea of where things stand and what you can do in the future.
Mr. Kraft assists clients primarily in the areas of estate planning and administration, Medicaid planning, federal and state taxation, real estate and corporate law, bringing the added perspective of an accounting background to his work.