- Your Legal Team
- Criminal Law
- Family Law
Trusts are a fiduciary arrangement that allows a third party, or “trustee”, to hold assets on behalf of the beneficiary or beneficiaries. There are many types of trusts and we work with you to identify which is best for you.
It is common that trust assets are more easily accessible than those assets outlined within a will.
Some trusts fall into a category of Irrevocable trusts, where it is not a taxable part of the estate in the event of death.
Revocable trusts are where you can instruct the trustee to distribute assets to a beneficiary (even in cases of a spendthrift) in any way you choose. These trusts are not subject to probate nor on public record.
A trust, in conjunction with a well-crafted estate plan, can truly help you control your wealth, protect your legacy and offer privacy along with probate savings.
Feel free to use the form to request a free consultation or call our office during regular business hours.
At McCarty-Larson, we work with a lot of clients who are going through a divorce. Don’t forget to revise your estate plan at this time. You probably don’t want your ex-spouse to make life or death decisions for you, or to manage your estate. As a good rule of thumb, one should update your will or trust every three years to make sure they take into account changes in your life.
If your family knows in advance that there will come a time when help is needed, because a family member has been diagnosed in the early stages of dementia or Alzheimer’s or some other disabling disease, that family member may want to grant someone the Power of Attorney. This is a simple process that ensures someone can make financial and/or medical decisions when needed.
The ill or disabled person must be of sound mind to make such a decision. If they are not, then legal guardianship is the only tool available to give someone authority to make critical decisions.
Legal guardianship can be controversial if all family members don’t agree on what’s best for the incompetent family member. But it’s also a great gift to know that someone will be there to handle personal and financial affairs so your loved one won’t be unprotected.
The guardianship lawyers at McCarty-Larson have extensive courtroom experience. We will make the case for the best interest of the vulnerable adult or child.