Southbury Trusts Lawyer

Southbury Trusts Attorney

Many people find it difficult to think about death, but if you want to ensure your family can resolve estate administration after your death as easily as possible, it is crucial to consider your options and work with an experienced attorney to develop the plan that’s right for you. A Southbury trusts lawyer at Burns Thomas, LLC, can explain the benefits of creating a trust and guide you through this process.

Experienced Estate Planning Counsel for Trusts in Southbury, CT

The team at Burns Thomas, LLC, has years of experience helping clients in Southbury and surrounding areas of Connecticut with all types of estate planning, including the creation of trusts. Whenever we meet with a new client, we take time to listen to their goals and their concerns when it comes to end-of-life planning. Trusts can provide valuable benefits, but it is crucial to know what it takes to create a legally enforceable trust.

Recent statistics show that only about 33% of Americans have created estate plans, but 35% of Americans report having experienced family conflicts because family members died without having any estate plans in place. Some people create estate plans without making these plans known to their executors, and roughly 50% of executors are not aware of a will.

More than 30% of Southbury’s population is over the age of 65, and this is usually the age bracket most concerned with end-of-life planning. However, it is never too early for anyone to start taking estate planning seriously, and trusts provide significant benefits that no one should overlook. Burns Thomas, LLC, takes time to learn as much as we can about our clients to create truly personalized and legally enforceable estate plans, and these often include trusts.

Understanding Trusts in Southbury Estate Planning

Whenever a person dies in Connecticut without an estate plan, their estate enters probate. This is a notoriously frustrating, time-consuming, and expensive process. The contents of the deceased’s estate will be distributed to their beneficiaries according to the state’s laws of intestate succession. Family members often feel as though this is disconnected from their family dynamics, and it is easy for conflicts to arise in many ways.

A properly configured and legally enforceable trust could enable your family to avoid probate entirely. When you create a trust, the assets placed within the trust are placed in the ownership of your chosen trustee. Their job will be to maintain control over the contents of the trust and, after your death, distribute the contents to your beneficiaries according to the instructions you set forth in your will.

Creating a trust is more complex than writing a will because more information is required upfront. Additionally, it is possible to create different types of trusts. For example, an irrevocable trust cannot be modified once created, but can provide significant tax benefits to your family. By comparison, a revocable trust can be edited over time but does not provide the same level of tax protection.

Your Southbury trusts lawyer at Burns Thomas, LLC, can help you determine which type of trust suits your needs and expectations most closely. Trust us to gather all of the records and documentation you will need to create a fully enforceable trust. We can also explain the potential drawbacks of each type of trust and which type would be most suitable for the particular assets you control.

Assets placed in a trust may be shielded from creditors, preventing them from being seized for debt collection or taken through lawsuits. A trust can also protect assets from mismanagement by beneficiaries. If the estate owner has specific intentions for certain assets, their trustee can ensure that beneficiaries use their assets as intended. Trusts can also ensure financial assets designated for minor children are protected and properly managed so they can use these assets as intended.

Whether the best option for you is a comprehensive will, the establishment of trusts or other estate planning solutions, we will find a solution that fits your needs.

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Elements of Your Estate Plan in Southbury

A will is a very important document that can provide clarity and confidence to you and your family when it comes to the administration of your estate after your death. A trust can provide tax benefits to your family and potentially allow them to avoid probate entirely. These are important components of a complete estate plan, and it is also possible to include additional documents that further protect your family:

• Your advanced medical care directive can explain your wishes when it comes to the medical treatment you want to receive in certain situations. If you become critically ill and/or incapacitated, this document will explain what level of treatment you would like to receive in specific situations. This allows your family to make medical decisions on your behalf with confidence.
• A durable power of attorney can enable your chosen personal representative to make important, legally binding decisions on your behalf if you become unable to do so. The personal representative you designate as your Power of Attorney can help your family handle difficult situations more efficiently and with the confidence of knowing the representative has a duty to respect your wishes.
• You can also provide clear instructions for protecting specific assets, planning for guardianship of minor children or adult children with disabilities, and making charitable donations with elements of your estate after your death. Carefully constructed trusts help to minimize the chance of certain beneficiaries taking advantage of others, and plan as far into the future as possible.

Trusts are valuable components of estate plans, and your Southbury trusts lawyer at Burns Thomas, LLC, can work closely with you to help you make informed decisions about the estate plans you make. Trusts can be more difficult to create than simple wills, but it is worth the effort, and you can be confident with the results when you have an experienced legal team assisting you.

End-of-life planning may be a challenging topic, but it is never too early to start creating your estate plan and ensuring the greatest benefits to your family. The team at Burns Thomas, LLC, is ready to assist you with your estate planning and can explain the potential advantages of creating a trust. Contact us today to schedule a consultation with an experienced Southbury trusts lawyer and learn how we can help.