Experienced Trusts Attorney Serving Minnesota Families
Trusts are somewhat like wills in that they designate clearly how assets should be managed and distributed. Typically, however, trusts are established and maintained while you are still alive and earning income. Since there are so many kinds of trusts, you can be very specific and creative about how to manage your wealth. When you work with Waldron Law Offices, Ltd. to establish a trust, we’ll ask you what your goals are and who should be included, then build the trust documentation to the right specifications.
Common Types of Trusts
We won’t go into every type of trust available to Minnesotans, but some of the most common trusts we help our clients establish include:
- Living or revocable trusts: These trusts allow you to name someone else as the trustee, beneficiary and grantor and may be used to navigate tax situations. They can be amended at any time so long as you are living and competent, unless you have specified that your trust can be amended on your behalf by someone else, such as the person holding your power of attorney.
- Charitable trusts: Typically these trusts provide income for surviving family members and the remainder of assets goes to a charity once the other beneficiaries pass away.
- Burial trusts: These trusts set aside assets for funeral and burial costs so those financial burdens don’t fall on your family or detract from their inheritance.
Work with an Experienced Trusts Attorney
Whatever your specific needs, we can help you decide which trusts will allow you to manage your assets as you see fit. Put over 30 years of experience on your side and contact a reputable lawyer to help you with all of your estate planning needs.