If you are considering setting up a bare trust to convey property to your children or grandchildren, getting the advice of a Lemmon attorney skilled in bare trusts can help you determine if such a trust is the right tool for achieving your wishes.
In a bare trust, or simple trust, the beneficiary has the complete right to the capital and assets within the trust and the income generated by the assets. Assets of the trust are held in the name of a trustee, who must manage them to maximum the benefit for the beneficiaries. The trustee has no control over the trust's income or capital and must act according to the beneficiary's instructions. The beneficiary is entitled to take ownership and control of the trust property.
No matter what your legal issue may be, it is always best to seek legal help early in the process. An attorney can help secure what is likely to be the best possible outcome for your situation and avoid both unnecessary complications or errors.
Prepare for your consultation by writing down notes of your understanding of the case, jot down questions and concerns for the attorney, and gather your documents. Remember that you are trying to get a sense of whether the attorney has your trust and can help you address your legal issues. Questions should include how the attorney intends to resolve your issue, how many years he/she has been practicing law and specifically practicing in your area, as well as how many cases similar to yours the attorney has handled. It can also be helpful to broach the subject of fees so that you understand the likely cost and structure of your representation by a specific attorney and/or legal team.
A reputable attorney will be very upfront about how he/she will charge you. The three most common fee structures that attorneys use to charge for their services are:
Depending on your specific legal situation, it's possible that only one type of fee structure is available. For instance, criminal defense attorneys almost always bill by the hour. In a flat fee arrangement, an attorney accepts a one-time payment to help you resolve your issue. With a contingent fee agreement, the client pays little to nothing upfront and the attorney receives a percentage of the money recovered if you win your case.
Affidavit - A sworn written statement made under oath. An affidavit is meant to be a supporting document to the court assisting in the verification of certain facts. An affidavit may or may not require notarization.
Lead Counsel's objective process independently verifies attorney records, conferring with state bars across the country and conducting annual reviews to confirm that the attorney practices in the legal categories as indicated, possesses a valid bar license, and is eligible to practice in the specific jurisdiction.