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A family trust is a way to transfer ownership of property and assets out of your name to ensure they eventually pass to your heirs with minimal interference. Also called a revocable living trust, the document is quite flexible, as the owner—or grantor—can alter the terms. Many people go this route to avoid probate, which is a lengthy and expensive process that most estate plans, except family trusts, must pass through after the grantor dies.

The Benefits of a Family Trust

The advantages of a family trust don't end with probate avoidance. The document could also minimize the estate taxes your heirs have to pay, and your decree is fairly unassailable regarding legal challenges and disputes. Also, the grantor has the peace of mind that comes with knowing their property and assets will be distributed in the ways they wish; crucial decisions will not be left to the courts.

How to Start One

family trustFortunately, preparing a family trust is not an involved or particularly stressful process with the right assistance. Find an attorney who practices estate law and to put together the necessary planning documents. Your lawyer will review your assets and help you decide which items should be placed in it. They will also be your main point of contact if you need to update or revise the terms.

 

If you’re ready to explore family trusts, create a will, or need help with estate planning, turn to the trusted team at Arnold & Stafford. With over six decades of combined legal experience, these legal professionals serve clients throughout Hinesville, GA. With expertise in a wide range of practice areas, you can also rely on the firm for personal injury claims and criminal defense. Call (912) 369-4529 to schedule an initial consultation today, or contact the attorneys directly through their website.

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