Being named trustee of a special needs trust is a great honor as well as a huge responsibility. Whether you are seeking a trustee or thinking about accepting a request to act as one for a family member, your first move should be to contact an experienced special needs and elder law lawyer.
Every year, tax brackets and exemption amounts are adjusted to reflect cost-of-living increases. For individuals creating or updating their estate plan, recognizing and understanding the impact of such changes is vital for beneficiaries.
If you have minor children, naming a trusted legal guardian is an important part of your comprehensive estate plan. Retain the services of a respected lawyer to ensure your rights, assets, and legacy are fully protected.
In estate planning, living trusts allow the Trustmaker to use and access trust assets while they are alive and well, provide for their care in the event of disability and ultimately provide lifetime protection for beneficiaries, including pets. However, creating a trust and then transferring real property into the name of the trust can be confusing.