What Does a Trust Attorney Do?A trust attorney will set up a trust on your behalf. A trust attorney can provide relevant legal help to whomever you name your trustee, the person who is in charge managing the trust. You can even name a lawyer as your trustee. This can be useful if your estate is large and complex, or if you want to ensure that your trustee is an impartial third party.
How Do I Know If I Need a Trust Attorney?If you are creating a trust, it's a smart idea to either have it created or reviewed by a trust attorney. Here are some reasons you may want to create a trust:
- You don't want your family to go through probate
- You're trying to lower your estate taxes
- You don't need to name the guardian of a minor or specify your last wishes (for these, you need to create a will)
- You want to dictate when your beneficiaries receive their inheritance
How Much Does a Trust Attorney Cost?A trust attorney charges based on the service being provided. To simply create or review a trust, your attorney may charge an hourly rate or a flat fee. To act as the trustee, a trust attorney generally charges by the hour. Rates will vary depending on where you live, so be sure to set a rate with your attorney up front.
What Should I Expect from Working with a Trust Attorney?Creating a trust will ensure that your valuables go to the right place, either while you're still living or after death. By using a trust lawyer, you can be confident that what you decide will be put into place because even if there is a dispute, your trust should hold up in court.
A trust can't contain your last wishes or information on the guardian of your child should anything happen to you, so you may still need to create a willto cover all your bases.
This article contains general legal information and does not contain legal advice. Rocket Lawyer is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.