Include a trust as part of your estate plan.
There are many vehicles you can use to maintain and transfer your assets as part of the estate planning process. One of these is trusts, and these are something recommended and created by our legal team frequently at Vanderbloemen, Fleischer & White, PLLC.
What are trusts? These are estate planning tools where an individual transfers assets to a trustee, who manages these assets on behalf of the designated beneficiaries, often for the purpose of managing and distributing the trustor’s estate following their death. Trusts are commonly used in the estate planning process because they provide a way to control how assets are distributed, avoid probate, and potentially reduce estate taxes.
One of the main reasons people in the Hickory, North Carolina area use trusts is to avoid the time-consuming and often costly probate process. This court procedure is used to validate a will and distribute assets. Assets in a trust pass directly to the beneficiaries without going through probate.
Trusts also allow the trustor to determine how and when their assets will be distributed after their death. For example, a trust can specify that assets are distributed to a beneficiary at a certain age or under certain conditions, such as for education or healthcare expenses.
We would be happy to tell you more about trusts and why they are a beneficial estate planning tool. Contact us today to speak with a member of our legal team about your estate planning needs.
At Vanderbloemen, Fleischer & White, PLLC, we help clients create trusts in Catawba, Claremont, Connelly Springs, Conover, Denver, Granite Falls, Hickory, Hiddenite, Hildebran, Hudson, Lenoir, Maiden, Morganton, Newton, Rhodhiss, Sherrills Ford, Taylorsville, Valdese, and Vale, North Carolina.