When deciding how to handle many future and even post-life decisions, planning is vital. However, there is no “one size fits all” approach to handling things like money. In our previous blog post, we discussed how trusts have become an important part of a comprehensive estate plan. Yet, a logical follow up question may be, what type of trust is right for my situation?

There are a number of different types of trusts that have different rules and are generally used to achieve different ends. For example, if you would like to donate a portion of your money to a charity of your choice, a charitable trust may be the best way to do this. If you have children – or grandchildren – and feel strongly about helping with the rising costs of education, an educational trust may be appropriate. Often, the greatest challenge is simply knowing who to “trust” with helping to establish your estate plan.

Experienced attorneys like those here at Luis E. Barreto & Associates, P.A., can provide the advice you seek regarding your estate planning needs. There are steps that need to be taken to appropriately and effectively establish the type of trust you desire – particularly if a trust is complex. Once established, it will be important to ensure the trust is administered appropriately, and an attorney can provide consultation in that regard as well. In the event of a dispute or question regarding a trust that leads to litigation, working with experienced counsel can be important in seeking an appropriate resolution.

Our firm handles all aspects of trusts, from creation and administration through to litigation. To learn more about how a trust may benefit your estate plan, visit our trust creation and administration page.

Luis E. Barreto