St. Louis Trust Lawyer
Planning for the end of your life is a complicated experience. Not only do you have to consider your own mortality, but you also face crucial decisions about what will happen to your hard-earned assets after you pass away. Many people delay creating estate plans to avoid thinking about such things.
Regardless of the situation you are in, it is essential that you make an estate plan that will protect your loved ones after you pass. Although there are many different estate planning options to choose from, trusts provide significant benefits for you and your beneficiaries alike. Even if you have heard about trusts as an estate planning option, it is important for you to explore the details with an experienced trust attorney.
Our trust lawyers offer high-quality trust and estate planning services to the people of the St. Louis area. If you do not have an estate plan in place, now is the time to begin.
Stange Law Firm: Your St. Louis Trust Attorneys
Our St. Louis estate planning attorneys have many years of experience creating trusts and other estate plans for our clients. We are passionate about ensuring that our clients feel confident in their estate plans. Our team works diligently for each family that we collaborate with. We have years of experience in estate planning, including trust creation. Therefore, our clients gain the benefit of having knowledgeable, confident lawyers on their side.
Although we have helped thousands of families with their trusts, we understand that this is likely your first time going through this process. Because of this, we take the time to talk about your unique needs, answer your questions, and put you at ease for the estate planning process. You can trust us with your family’s finances and future. You can feel confident that your assets are in the right hands.
Our attorneys at Stange Law Firm offer estate planning legal services to the people of the St. Louis area and beyond.
What Is a Trust?
Although trusts are common, many people do not know what they entail. If you are exploring estate planning options, it is crucial that you understand your options. This allows you to make a conscious and thoughtful decision about your family’s future.
A trust is a type of estate planning account. As the benefactor, or trustor, you put your assets into the trust for safekeeping. A trustee will hold the assets under their protection and handle trust administration after you pass away. When you do pass, the items in your trust avoid going through probate court. This is because the trustee is technically the legal guardian of these assets. Since the trustee did not pass away, the items have no reason to go through probate court, which is reserved for the assets of the deceased.
There are two major types of trusts: revocable trusts and irrevocable trusts. Revocable trusts, also known as living trusts, are a common choice for those who make their estate plans early. When you have a living trust, you are still free to access your assets as you wish. You may make changes to your beneficiaries and update your wishes as you see fit.
Irrevocable trusts, on the other hand, cannot be changed or modified once they have been completed. You will not be able to access your assets, and your estate will be under the control of your trustee. Revocable trusts are common for those with degenerative diseases or those who can no longer make informed decisions for themselves. All trusts become revocable when the trustor or benefactor passes away.
When you pass away, your trustee will be responsible for distributing the assets in the trust according to your wishes. If your assets have changed, beneficiaries have passed, or certain actions are no longer possible, the trustee will work to act in your interest.
Why Do I Need a Trust Attorney?
Creating a trust is a significant event. Although you may be able to access your assets while you are alive, trusts are powerful accounts and should be treated as such. If you attempt to create a trust on your own, there is a high chance that a mistake or violation will make the account invalid. This can leave your family without the benefit of a trust and your assets unsecured.
It is also difficult to choose a trustee for your trust. This individual must be trustworthy and know you well, but simultaneously should not have a stake in the trust. Generally, you cannot name someone as both a trustee and a benefactor unless there is a co-trustee to oversee the handling of funds. Selecting a trustee is a difficult job. It is helpful to have an attorney guide you through the selection process.
To ensure that your trust is strong, and your assets are in order, it is a good idea to conduct all your estate planning with the help of a qualified attorney.
How Much Does an Estate Planning Trust Attorney Cost?
Trust attorney rates range greatly, so it is difficult to say how much your trust attorney will cost. Some firms charge hourly for estate planning services, while others charge a flat rate for certain projects.
To be prepared for the cost of trust planning, be sure to speak directly with potential attorneys about their fees and rates. This will help you plan for the cost. This can also help you begin to make informed decisions about your trust and, ultimately, your family’s future.
Contact Stange Law Firm of St. Louis
Our team at Stange Law Firm of St. Louis is here to help with all your estate planning needs. We have an intimate knowledge of the trust laws that may affect your family. We can work with you to develop a trust or other estate plan that truly works for your circumstances. Our clients trust us with this important part of their lives, and we treat this trust with sincere care and respect.
If you are ready to begin the trust or estate planning processes, schedule a consultation with Stange Law Firm today.
Greene County, St. Louis Office : 901 E. St. Louis, Suite 404, Springfield, Missouri 65806
