A trust attorney is an essential component of any estate planning team. They specialize in drafting, reviewing, and amending trust documents to protect assets and ensure they are distributed according to your wishes. While many people put off hiring a trust attorney until they are absolutely necessary, it's better to be proactive and prevent issues before they arise. In this blog post, we will discuss the top signs that indicate it's time to hire a trust attorney.
You Have Children Under the Age of 18
If you have children who are still minors, it's essential to include a trust in your estate plan. A trust will allow you to designate a guardian to care for your children if something happens to you and your spouse. Additionally, a trust can provide for the financial needs of your children until they reach adulthood. A trust attorney can help you create a trust that meets your specific needs and ensures your children are protected.
You Own Property in Multiple States
If you own property in multiple states, it's critical to have a trust attorney review your estate plan. Each state has different laws regarding the administration of estates, and a trust attorney can ensure that your estate plan is valid and enforceable in all states where you hold property.
You Want to Avoid Probate
Probate is the legal process of distributing an estate after someone dies. It can be a lengthy and expensive process that can be avoided with proper estate planning. A trust attorney can help you create a trust that allows your assets to pass outside of probate, saving your loved ones time and money.
You Have Complicated Family Situations
If you have a blended family, stepchildren, or other complicated family dynamics, it's crucial to hire a trust attorney. They can help you create a trust that addresses your specific situation and ensures that your wishes are followed after you pass away.
You Want to Protect Your Assets
A trust can help protect your assets from creditors, lawsuits, and other potential threats. A trust attorney can help you create a trust that provides maximum protection for your assets while still allowing you to retain control over them during your lifetime.
Hiring a trust attorney is essential for anyone who wants to protect their assets and ensure that their wishes are followed after they pass away. By recognizing the signs that indicate it's time to hire a trust attorney, you can take action to prevent issues and create a solid estate plan. Contact a trust attorney today to learn more about how they can help you.