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A remainder trust is a type of charitable trust that is set up for the benefit of certain individuals and a charity. In a remainder trust, assets from the trust are distributed periodically to a beneficiary or beneficiaries, and any remaining assets are distributed to a charity or charities. The remaining assets are only distributed if there are sufficient assets leftover when the distribution to beneficiaries has concluded.
Remainder Trust Lawyers
Remainder trust lawyers practice estate planning law, which means they are qualified to help you design a plan to protect your future assets. Without a plan a person or couple with substantial assets is essentially letting the government decide what happens to their assets upon their death. With an estate plan in effect, which may include a remainder trust, you'll have full control over who benefits from your assets upon your death (or a certain event).
Should You Hire a Remainder Trust Attorney?
Although you can develop an estate plan without the help of an attorney, an experienced remainder trust attorney can provide:
- Assurance your estate plan is constructed properly and will be enforceable as to your wishes
- Creative ideas and problem solving to help achieve your goals efficiently
- Advice regarding the latest laws impacting estate planning including tax laws, which change frequently
- Referrals to financial advisors and tax professionals if needed
- Peace of mind
Those who maintain substantial assets and attempt to craft their own wills and trusts often find it's a frustrating and time consuming venture. Additionally, the peace of mind you achieve by hiring an experienced remainder trust attorney is difficult to measure. Use LawInfo to find local remainder trust attorneys today.
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