Protecting Assets And Achieving Goals Through Trusts

Clients commonly ask us “what is a trust?” and “do I need one?” Depending on your assets, your beneficiaries and your goals, trusts can be a valuable estate planning tool.

The experienced lawyers of Kerley & Talken PC can help you explore the use of trusts in a comprehensive estate plan. We help individuals and families in Springfield and throughout central Illinois protect wealth and plan for the future.

The Role Of Trusts In Estate Planning

A trust is a legal entity that holds assets outside of your estate on behalf of your designated beneficiaries. Trusts can serve many purposes, including:

• Asset protection – Trusts can shield family wealth from creditors, lawsuits and other threats.
• Special needs planning – A special needs trust provides quality-of-life extras for a disabled adult child while preserving their eligibility for Medicaid assistance.
• Charitable legacy – You could endow a charitable trust to support a favorite cause in your name.
• Controlled inheritance – A trust can dole out an “allowance” to an heir is not responsible enough to possess the money themselves.
• Efficient estate administration – Assets held in trust bypass the months-long probate process and transfer directly to the beneficiaries.
• Privacy — Probate proceedings are public record, while trusts are private

Our attorneys can explain the pros and cons of different types of trusts that match your estate planning objectives. We help you establish and properly fund the trust and choose an individual or a professional trustee to manage it.

Tailored Estate Planning • Free Consultations

Kerley & Talken PC offers attentive service and a problem-solving approach to customize your trusts and other estate planning documents. To arrange your free (phone or virtual) consultation, call our law office at 217-814-0148 or email us today. We also conduct in-person meetings on a case-by-case basis, with your health and safety as the primary consideration.