We know that no family is the same. Each has unique needs and circumstances, often reflected in the type of trust they pick and how they set it up. Our firm focuses much of our practice on estate planning, so we’ve helped trustees administer trusts of all shapes and sizes. We are familiar with many types of trusts, including:

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• Revocable living trusts: These trusts can be changed over time. They’re typically used to avoid probate and protect the grantor’s privacy.

• Irrevocable trusts: These trusts cannot be altered or revoked once created. These trusts provide better protection of assets from creditors and lawsuits.

• Testamentary trusts: These trusts are created by the grantor’s will. People typically use these trusts to reduce tax liabilities and ensure that the party who manages their assets does so professionally.

• Special needs trusts: These allow a family member with a physical or mental disability to remain eligible for public assistance programs. This can be one of the most critical components of special needs estate planning.

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You shouldn’t have to navigate the subtleties of administering these trusts alone. Reach out to Gold Law Firm, LLC, today by filling out our website contact form.