Trusts

New Jersey Business Law Attorney

Trusts

Depending on your objectives and the size of your estate, it may be advisable for you to set up a trust.  For some individuals, the creation of a trust may seem appropriate when there is a fear that a will may be contested.  In other circumstances, a trust may lessen time spent in probate.  There may also be tax advantages to setting up certain types of trusts.

A trust represents a special legal relationship where the person authorizing the trust turns over his/her assets for control and management by one or more persons called the trustee(s).  The individual funding the trust is known as the grantor, settlor or donor.    In some situations, the trust may be set up during the grantor’s lifetime, and all property would then be listed in the name of the living trust.

Upon the death of the donor, the trust is managed by the named trustee.  The trustee may be an individual, but is often a bank or law firm.  In any case, they are expected to follow the instructions and wishes left by the decedent as far as delivering proceeds to the named beneficiary or beneficiaries.

Trusts Lawyers New Jersey 

As experienced trust lawyers in New Jersey, the Law Offices of DiFrancia & Price P.C. discusses the formation of trusts with clients who may benefit from them.  Some people like the private nature of trusts, as they are considered confidential.  Others have concerns that one of their beneficiaries cannot appropriately manage finances.

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Trusts have become a convenient and popular way of settling one’s affairs. In order for a trust to match your expectations and honor your wishes, it is essential to be acutely aware of all legal requirements and obligations included. That’s why it is always a smart call to consult experienced trusts attorneys for setting up a trust in New Jersey. 

Our trusts lawyers will support you each step of the trust creation process. We will clarify all legal questions so that you determine what type of trust is best suited to your estate plan.  This will consist of many things, not limited to explaining the differences in irrevocable trusts and revocable trusts.

Setting up a Trust the Right Way 

Our experienced trusts attorneys will make sure that your wishes are honored to the tiniest details. This includes tailored language so that your trust’s instructions and demands are entirely clear to the trustees and beneficiaries. 

Setting up and executing a trust can be a time-consuming and quite a complicated process. The legal considerations that concern trusts emphasize the need for an experienced trusts attorney who understands New Jersey law.

Get in touch with our trusts lawyers to discuss the most suitable options available to you and your loved ones. Setting up a trust may be a valuable tool for your estate plan.