A living trust can be an important component of your estate planning. It may allow you to avoid probate and provide better control of your assets. Call Phillips & Blow, PC at (303) 741-2400 and speak with a Denver living trust attorney to get a free consultation. We can help you determine if creating a living trust is the right estate planning step for you.
Why Choose A Denver Living Trust Attorney?
We take a client-centric approach to the services we provide. Our experienced living trust lawyers strive to address the entire family dynamic to help ensure that you leave a positive and lasting legacy for your loved ones.
Our goal is to make the planning process as convenient as possible for our clients. At your request, we can visit you in your home or at a hospital, nursing home, or hospice.
We provide open, transparent communication to our clients and their beneficiaries. We believe in providing all the information our clients need to make the best possible decisions that lead to the best possible outcomes.
What Is a Living Trust?
A well-written living trust is a sophisticated legal instrument that works like a basket for your assets. The person making the trust (grantor) agrees to put his or her assets into the trust, stipulates how the trust will be managed, determines who will get the benefit of the property in the trust (beneficiaries), and appoints a trustee to manage the property according to trust stipulations. While you are alive and well, you can serve as the trustee of your own living trust.
Who Can Benefit from a Living Trust?
We take a comprehensive approach in reviewing your entire situation to determine if you need a living trust. This estate planning tool may be appropriate for you if you:
Have significant assets you want to protect;
Have real estate interests outside of the state;
Want to avoid probate and maintain privacy concerning your financial affairs;
When you set up a living trust, you transfer your assets from your name to the name of the trust, over which you maintain control. Once the trust is established and contains all your assets, you no longer own them – they belong to the trust. Consequently, there is nothing left for the courts to control when you die or become incapacitated.
How Do You Maintain Control Over Your Assets with a Living Trust?
You make the rules when you establish a living trust. As trustee of your own trust, you can do anything you could have done before when the assets were still in your name, including buying or selling assets. You file the same tax returns, only in the name of the trust instead of your own name. As the living trust is revocable, you have the option to change or cancel it if you desire.
Connect with Phillips & Blow, PC
At Phillips & Blow, PC our Denver living trust attorneys have more than 20 years of experience handling all matters of estate law for our clients. Contact us today at (303) 741-2400 for sound legal guidance in establishing a living trust and all your estate planning needs.