Learn About Trusts From An Experienced Attorney
Many people have created wills to secure their wealth and assets, ensuring that they will be passed down to the rightful heirs after their death. In many instances, however, a will may not be enough, and a trust can do a better job of distributing your financial assets. For example, did you know that a trust can be implemented while you are still alive? This means you do not have to wait to see your wealth being distributed should you have immediate needs to meet.
If you are not sure whether having a trust would line up with your financial goals, The Mead Law Firm, in Tigard, can help you. As an estate law firm, we have more than 25 years of experience handling various estate planning matters throughout the Portland area and around Oregon. We know that each financial situation is shaped by unique circumstances. When you work with us, you can expect a personalized approach to your case: We will help you map out your financial goals and walk you through the process of creating a trust.
Why Having A Will May Not Be Enough
A will allows you to provide direction on how assets will be passed down to your desired heirs. But taking a will through the probate process is generally time-consuming and expensive.
A trust, by contrast, can provide greater flexibility, allowing you to determine how much of your wealth you would like to distribute, how regularly and at what point in time.
Some examples of situations that would benefit from having a trust include:
- Wanting your child to reach a certain age before they inherit your property
- Wanting to continue providing regular care for an adult with special needs
- Wanting to fund or provide assets for a specific charity
Trusts can be tailor-made to fit the most unique financial circumstances, ensuring not only the transferring of your wealth but also the way in which it is done. Additionally, many people prefer trusts to wills because of the privacy they are guaranteed when their assets are handled by a trustee rather than an executor. With so many possible paths to take when creating a trust, you can be assured that The Mead Law Firm is prepared to answer any questions you may have and keep you informed on all your options.
Discuss Your Financial Concerns With A Portland Trust Lawyer
Schedule a consultation with attorney George Mead to discuss your financial needs in a confidential setting. To set up an appointment, you can either contact us online or call us at 503-214-2712 or toll free at 888-328-1440.