If you are in the process of creating an estate plan, you may wonder if a trust is right for you. With many types to consider, this could be the document that works best for you and your loved ones.
Of course, you can't move forward with this until you have answered all your questions. Here is one of the most important to address: When does a trust end?
There are many ways a trust can end. The most common is when all the assets of the trust are paid out to beneficiaries, such as after a person passes on. Once this happens, the trust comes to an end.
Furthermore, there are times when a trust can end because the grantor decides that is no longer necessary. An example of this would be if a minor child is not permitted to gain access to the funds of a trust until he or she reaches the age of 18.
If you are in the process of creating a trust, you need to consider each type. Along with this, be clear as to what you are trying to accomplish.
With the help of our law firm, you can better understand the ins and outs of using a trust as an estate planning strategy. From a revocable trust to an irrevocable trust, we can put you on the right track.
Reach out to our firm online or via phone. From there, we can consult with you on the steps to take and what to expect in the future. In other words, we'll put your mind at ease.