We can make assumptions, but we can never truly know what the future will hold. As such, individuals in Illinois and elsewhere often take specific steps to better protect themselves for the unexpected events that may or may not occur.
An estate plan is a tool that can serve one well, offering a wide range of benefits. And depending on your situation, including a trust in your estate plan might be essential.
What is a trust?
At the Law Offices of Kerley & Talken, P.C., our attorneys understand that you might have many questions regarding trusts. To begin, you might be under the impression that trusts are only for those with significant wealth and property. While trusts are beneficial for those with much wealth, it is also for individuals and families that seek to shield or control certain assets, protecting them from misuse, creditors and probate.
Purposes
Much like the goals of an estate plan differ from one person to the next, so do the purposes of a trust. For some, a trust may provide asset protection. Others might create a trust during special needs planning. A trust can also ensure a charitable legacy, help control inheritances to heirs, promote an efficient estate administration and create privacy
Our law firm provides attentive service, ensuring that your needs are paramount in the creation of a trust and overall estate plan. Whether you are questioning the process or seek to update a current plan or trust, it is important that you are fully aware of your situation. This can better ensure you are informed of your options and take steps to protect your rights and interests.