Potomac, MD Trust Lawyers
Potomac, MD Trust Lawyers
Perhaps you think that you don’t need a trust because you are not super wealthy. Maybe you think that a trust is useless because you already have a will. Either way: think again! Both of these myths are holding you back from creating a comprehensive estate plan that will benefit the people you love even after you’re gone, while helping keep them out of probate and ensuring your assets are distributed exactly as you intend! A trust is a versatile legal tool that will allow you greater control of your assets and how they are distributed to your family members and loved ones.
The Potomac trust lawyers of Z Family Law can help you understand the trust options that are available to you and choose one or more that align with your estate planning goals. Reach out to schedule a case evaluation and learn how we can help you build a more secure future for the people you care about.
Trusts And Their Uses
A trust is a legal tool that allows you to dispense assets–most commonly money, vehicles, and property, though there are many niche trusts that hold specific assets.
When the trust is created, you transfer ownership of the assets you want to designate to the trust itself. Then, based on your specified timeline, the trust will distribute the assets to the intended beneficiary.
Perhaps funds will be distributed only after you die. Perhaps you have put money in the trust and a certain amount will be paid out on a month-to-month basis. Perhaps the trust will only pay out when a certain milestone is reached, such as when your beneficiary graduates college or turns 21 or gets their first job. One of the great things about a trust is that, in many cases, you are able to make the rules that you want!
Trusts are useful for many other reasons as well. For example, they allow your assets to pass directly to your beneficiaries when you die instead of having to go through probate, and they shield your assets from creditors!
Need A Trust? You Have Options!
There are as many types of trusts as there are needs for trusts. If you need something highly specific, our experienced Potomac trust lawyers can help you! If you need something more universal, we can help you with that, too! There are trusts out there for your pets, your loved one who is bad with money, your favorite charity, and many, many more!
There are two primary ways that trusts can be arranged:
- Revocable trusts: This type of trust will dispense your assets to your beneficiary after you pass. With a revocable trust, you can change the assets, the beneficiary, the terms of the trust, or even eliminate the trust altogether.
- Irrevocable trusts: This type of trust will also dispense your assets to your beneficiary after you pass. However, you cannot change anything about this type of trust once it is established.
There are many trusts with which Z Family Law can help, including (but not limited to):
- Irrevocable living trusts
- Revocable living trusts
- Marital trusts
- Bypass trusts
- Charitable lead trusts
- Charitable remainder trusts
- Testamentary trusts
- Life insurance trusts
- Special needs trusts
- Pet trusts
Get in touch with us so we can learn your estate planning goals and recommend trusts in line with your needs!
The Potomac Trust Lawyers At Z Family Law Can Help You Secure Your Assets
At Z Family Law, we want to help you make sure that your loved ones have what they need to thrive, which is why we offer thorough, qualified support. We will work closely with you to understand your needs and offer our comprehensive legal advice. Reach out to schedule a case evaluation, and we will walk you through how our trusts can strengthen your overall estate plan and give security for your legacy!