Trust / Estates

A trust is a legal instrument which simplifies the conveyance of property(s) in the future.

  • The most popular use of trusts is for the conservation and management of property on behalf of young or incompetent beneficiaries. By establishing a trust fund, you instruct how assets are passed down to your children and other family members at the appropriate time.
  • Trusts can allow you to appoint a trustee to handle your affairs should you become incapacitated. They can be established to provide health, welfare and/or education expenditures.
  • Trusts can also be used for more sophisticated and orderly management of investments and many times offer tax benefits. Placing assets in a trust fund may reduce or eliminate estate and “death taxes”.
  • An inter-vivos trust, or one created during your lifetime may have advantages of minimizing probate proceedings and costs. An inter-vivos trust need not be probated with the court like a will, it may also provide privacy in the transfer of property at death. Depending on your personal situation and needs, the advice of a lawyer can be helpful in determining whether a trust should be used in your overall estate plan, and whether it should be inter vivos or testamentary, revocable or irrevocable. Sometimes more than one type of trust is helpful to achieve different or coordinated goals.

    To learn more about trusts and the advantages they offer, contact our office.

    Many different types of trusts can be used to care for loved ones. This includes surviving spouses, children, grandchildren, special needs individuals, pets and charities. Sometimes these trusts report to the authorities after creation, while other times, the trust reporting is not necessary until death.

    We prepare individual, trust and most estate tax returns.

    We work closely with all concerned to accomplish the target objectives efficiently and effectively.

    Contact our office to set up an appointment to discuss your tax filing requirements.