There is so much misinformation floating out there regarding Trusts. Most people, quite understandably, want to avoid paying any inheritance or property taxes, want to totally avoid the Probate Process and keep their property out of the hands of creditors and —most of all– the GOVERNMENT! A common misconception is that these goals are as easy as “changing the name of what you call it” (i.e., a TRUST)
Let’s take a breath and look at it from a different angle.
Would you like your estate planning to include provisions for a minor child, grandchild, relative, or even an individual who may not be capable of managing his or her own finances? Then, you may wish to consider a Testamentary Trust.
Over the last 25 years, Bubba Cromer has been helping his clients with their Estate Planning needs. Throughout that time, he has developed a Testamentary Trust that is a safe, effective and efficient way to protect someone you want provided for after you die.
In this document, you can name a Trustee who is responsible for managing the assets for the Beneficiary until such time as YOU determine he or she is “able to handle it on his own” – if ever. Trust Attorney Bubba Cromer is prepared to specifically tailor your document to your unique set of circumstances and conditions. For example, if you want to leave something for a minor child, you can do that . you can also determine at what age that minor child will be able to “take it free and clear”, if ever. That age can be as young as 18 or as old as you choose. Moreover, if you want the beneficiary to only be able to benefit during their lifetime , you can do that do. n any event, you can rest easy because the person or institution you name as Trustee can only use the inheritance for specific , legitimate purposes and they must account for the monies they issue for the beneficiaries under their guard.
Give Testamentary Trust Attorney Bubba Cromer a call to see if a Testamentary or other type of Trust is a match for your needs.