Forsyth County, GA Trust Attorney Helping Clients Make Smart Decisions About the Future
Trusts are an excellent way to provide for your family members after you pass away. Not only do they indicate who will receive which assets as is stated in similar to a will, but they specify how to give the money, such as in smaller amounts over a longer period of time. A trust can also protect your privacy and minimize the taxes due on your estate.
If you believe a trust would be a valuable part of your estate plan, you should consult a skilled attorney to begin the process. Creating a trust is not as simple as a will because there is so much more flexibility involved with the trust document. With varying options, choosing the right form of trust for you can be challenging. Attorney Mike Bascom has many years of experience working with trusts in Georgia, giving him the knowledge necessary to help you make the best decisions for your situation. Simply call 770-285-5493 to schedule a consultation where you can sit down with us and determine the course of action that makes the most sense for you and your family.
What is the Purpose of a Trust?
Trusts have a wide range of flexibility, meaning they are used for various purposes. Some trusts provide funds for a minor who may not be ready to receive a large sum of money all at once. Some individuals use trusts to protect their privacy when they inherit or win a large amount of money. Some trusts benefit people with special needs or charitable institutions. Additionally, individuals often use trust funds to avoid paying more taxes than is absolutely necessary or avoid probate court upon their death.
With this diverse range of purposes, it can be overwhelming to determine what kind of trust is right for you, let alone set it up without the help of a talented attorney who is very familiar with Georgia law. Whenever you have trust-related needs, you should always turn to a professional who can give you counsel specific to your situation. At Bascom Law, P.C., we listen compassionately to you in order to help you make the best decisions regarding your estate plan, including creating a trust. Don’t hesitate to reach out to us if you have any questions about how a trust can help you.
When Does a Trust Go Into Effect and How is it Administered?
After creating and funding a trust, it goes into effect. The trustee is responsible for ensuring that the trust is carried out according to your wishes as stated in the trust. Depending upon the type of trust, you may serve as your own trustee when you are alive and healthy, and pass this responsibility to your chosen successor when you become incapacitated or pass away. When you pass away, your trustee will settle your debts, pay any remaining taxes and other final expenses, as well as make distributions to your beneficiaries.
At Bascom Law, P.C., one of our focuses is to help clients enact and fund their trust appropriately. We also see that it is properly administered according to Georgia law. Administering a trust can seem complicated, but you don’t need to worry about a trusted legal professional on your side. We can help whenever a trustee needs legal guidance with administering the trust they are responsible for or for any other questions you may have regarding your trust.
Can Bascom Law, P.C. Help Me with Trust Administration?
At Bascom Law, P.C., we are happy to help clients ensure that their trust is administered correctly. Part of that is ensuring the trustee performs their duties as specified in the trust. When the trustee or successor trustee (person who is the backup for the original trustee) is in doubt of these duties, we can step in to make certain everything goes according to the grantor’s (trust creator’s) wishes. Should the trustee fail in their responsibilities, the financial and legal consequences can be very serious.
Whether you created your trust with our law firm or with another attorney, or if you are a trustee needing help administering trust funds on behalf of someone else, you can turn to attorney Mike Bascom for guidance. Our legal team takes the time to get to know each client, so we develop the right estate plan for you, including a trust fund that matches your family’s needs. Reach out to us if you have any questions about trusts or any aspect of estate planning or elder law.
Should You Hire Our Forsyth County Trust Lawyer?
Considering your own death can be a difficult task for most people, and putting a plan into place for your estate can seem complicated and overwhelming. Executing an estate or trust on behalf of another individual can be equally daunting. When you have questions about estate planning or when you are ready to set up your plan, including wills and trusts, you can count on Bascom Law, P.C. to stand by your side throughout the process.
We have the experience and knowledge you need when it comes to giving you counsel for your estate plan. We promise to use all of our time, energy, and compassion to get to know you, understand your wishes, and help you set up a trust that will be the most beneficial for your family. Attorney Mike Bascom is devoted to representing each client and enjoys providing solutions that match each person’s needs. Call today to set up an appointment where we can go over the details of your needs for estate planning in Georgia. We can be reached at 770-285-5493.