A Trust is a powerful estate planning instrument that can provide flexibility, privacy, and long-term asset management. Unlike a Will , certain Trusts may allow assets to pass outside of probate, helping to streamline administration and maintain confidentiality.
Trusts can be structured in various forms, including revocable living trusts, irrevocable trusts, special needs trusts, and trusts designed for tax planning or asset protection purposes.
A well-drafted Trust clearly identifies the grantor (the person creating the trust), the trustee (the individual or institution responsible for managing trust assets), and the beneficiaries. It outlines how and when assets are distributed, establishes management instructions for incapacity, and may include detailed provisions for minor children or beneficiaries who require structured distributions.
Trusts can also address long-term care considerations, business succession planning, charitable giving, and the preservation of multi-generational wealth.
At Dearborn Law Group, we assist clients in evaluating whether a Trust aligns with their estate planning objectives. Our firm carefully explains available options, drafts customized trust agreements, and ensures proper funding of trust assets so the plan functions as intended. Through strategic planning and precise legal drafting, we help clients protect their assets, provide for their families, and establish long-term financial structure and stability.