Trust and Estate Litigation Attorney

What do you need to know about trust and litigation law?

You should be aware that:

• Every individual, including you, leaves an estate when you pass on. The estate is made up of all your assets, which includes property like cash, homes, vehicles, and other investments.
• Legal problems with your trust or estate start when your family members have a legal dispute regarding your property, regardless of how you convey it through your will or trust.
• You can transfer your assets to a trust that will legally hold the property, manage it, and transfer it to a beneficiary within the allocated timeline.
• It is rare for disputes to arise in probate; however, they can still be very detrimental to the process whenever they do.

What is a legal trust?

As a grantor, you can create a trust to help distribute your inheritance to your beneficiaries. The legal trust will act more like a person or corporation, providing you with some benefits. First, the property transferred to the trust will not be subjected to inheritance tax or creditors.

As a grantor, you’ll transfer your property and assets to a trustee, who will hold them for your beneficiaries. A trust is an excellent option because you can dictate how and when your property will be distributed. For instance, a trust can hold your assets, grow them, and provide for young beneficiaries who can’t care for themselves.

Trusts are also private, making them more reliable than estates; however, you need a trust and estate attorney to set them up properly and avoid mishaps. For instance, a lawyer will help you determine what type of trust you prefer, including revocable and irrevocable trusts, funded and unfunded, etc.

What is an estate?

An estate is a sum of your assets minus all liabilities, including your money, buildings, vehicles, and shares. An estate is relevant in two instances, which are when you die and when you declare bankruptcy. Your estate will be assessed to determine what debts you can reasonably pay if you declare bankruptcy and are in debt.

An estate is more relevant when you pass on due to your inheritance and debt settlements. When this time comes, the best way to avoid any issues is by planning your estate and managing how your inheritance is divided amongst your beneficiaries. You can do this by drawing out a Will that explains your intentions regarding estate distribution upon death.

Managing an estate

Often, estates are divided amongst your family members when you pass on, leading to income entrenchment in certain families. Inheritances are responsible for a considerable proportion of wealth in the United States, prompting the government to impose a vast inheritance tax.

We advise hiring an estate attorney to help you pay the inheritance taxes correctly. An estate attorney will provide you with several loopholes to help you avoid paying a lot of taxes, including setting up trusts.

Writing a will

You write a will to determine how your property and custody of your children will be handled after you pass on. You use a will to express your wishes and will name an executor whom you trust to fulfill your intentions. The will can also indicate whether a trust should created after you pass on.

The will’s authenticity can be determined through probate. This is the first step when administering your estate and distributing your assets to the beneficiaries. When you pass on, a custodian will take the will to probate court or the executor within 30 days. The probate court will determine the will’s authenticity and accept it. Next, the court will appoint the executor and give them legal power to act on your behalf.

Why should you hire trust and estate litigation attorneys?

Avoiding disputes

You should be aware that inheritances have a lot of drama and disputes. This is when your family members are mourning and trying to determine what you set apart for their inheritance. Your beneficiaries’ heightened emotions can create a negative experience, so you must create a good trust or estate plan.

You need to hire a good trust and estate litigation attorney to ensure you have the best plan for distributing your inheritance. Additionally, the attorney ensures everything is in order and that your beneficiaries understand the documents and your final wishes. Doing this beforehand minimizes misunderstandings and ensures the distributions go according to plan.

Dispute resolution

As we’ve mentioned earlier, distributing your assets among your beneficiaries can lead to many disputes, and often, the beneficiaries have difficulty resolving them. Hiring an experienced trust and estate litigation attorney gives them a better chance of solving the issues more amicably.

For instance, your litigation attorney will help our beneficiaries negotiate and mediate to find a good solution. They can also initiate litigation to find a legal solution for the dispute if necessary. The attorneys will help protect your interests as the grantor and safeguard your beneficiaries’ interests, especially those who can’t defend themselves.

Making updates and amendments

A trust or will is not final until you (the grantor) have passed on, and you may need to make a few changes here and there. For instance, you may have acquired more assets and need to distribute them accordingly, or you may wish to set aside some of your property to give away to a charity. Either way, you need a good trust and estate attorney.

A trust and estate litigation attorney will help you change your will according to your desires. For example, they will help you add or remove a beneficiary, change your trust to reflect who will get what assets, etc. This is better than doing it yourself since it makes everything more official.

Legal expertise

You have several reasons regarding why you should hire experienced trust and estate litigation attorneys; however, the most crucial reason why you should do this is for their legal expertise.

You must understand that setting up a trust or planning your estate is a complex legal procedure, and you need help. You need experienced attorneys who can help you through the process.

Get experienced attorneys who will help you come up with a reliable plan and provide you with relevant advice and loopholes to ensure your beneficiaries get their inheritance. Some advice they may give you includes helping you avoid hefty inheritance taxes and streamlining asset distribution.

Legal compliance

Ensuring your trust complies with all laws and regulations; otherwise, you or your beneficiaries may be found guilty in a court of law. You should hire an experienced trust and estate litigation attorney who understands inheritance and trust laws to ensure you don’t break any when creating a trust or planning your estate.

Doing this reduces your risk of being found criminally negligent and ensures everything runs smoothly. Additionally, creating your trust or planning an estate with your litigation attorney ensures everything goes according to plan, and there is minimal chance that your beneficiaries will be involved in a dispute regarding their inheritance.

Administration assistance

Administering a trust involves several responsibilities that require hiring a competent estate attorney to help you fix. For instance, your attorney needs to distribute your assets to your beneficiaries, manage your assets, and file tax returns. The attorney should also guide you in administering your trust and ensure you do everything according to the law.

The litigation attorney will also help protect your assets from claims and legal challenges. These include challenges like undue influence, incapacity, and other legal grounds. Doing this protects your assets for your intended beneficiaries and ensures your property is distributed according to your wishes.

Conclusion: Hiring a trust and estate litigation attorney

A good, experienced trust and litigation attorney should help you protect your assets and ensure they are transferred to your beneficiaries according to your wishes. This is why you should take your time and hire reliable attorneys who understand inheritance law and have a good reputation for ensuring their clients receive the best services.