Granville, Ohio
230 E Broadway Suite 100
Granville, OH 43023

3 Major Benefits of Setting Up a Trust November 20, 2018

Granville, Licking
3 Major Benefits of Setting Up a Trust, Granville, Ohio

Trust funds, or trusts, are one of the most misunderstood estate planning arrangements. Contrary to popular belief, they are not just for the extremely wealthy. What’s more, they are not all that challenging to set up, especially if you turn to seasoned estate planning lawyers for guidance. Here are just a few ways the entire family could benefit if you do so. 

The Top Advantages of Setting Up a Trust

1. More Control

In a trust, you can establish specific parameters for distributing various assets. For example, you can devise a disbursement schedule and even include terms limiting what the funds may or may not be used for upon distribution. As long as the terms are unambiguous, this will serve to mitigate potential disputes upon your death.

2. Shorter Probate Proceedings

estate planningAlthough the estate will have to go through probate upon your death, any assets that were transferred to a trust prior to your passing will not. This could save beneficiaries a considerable amount of time and money. It will also ensure they receive their inheritances exactly when you want them to by preventing the funds from being tied up in legal proceedings. 

3. Lower Taxes

Depending on the size of the estate, a trust can serve to reduce the tax burden for beneficiaries. Assets transferred to a trust are not subject to estate taxes. Placing assets in a trust will also reduce the total taxable value of the estate, thereby minimizing potential tax obligations even more. 


If you need help drafting critical estate planning documents like wills and trusts, turn to Vernau Law LLC. Based in Granville, OH, this law office has been providing comprehensive legal counsel throughout Franklin, Knox, Licking, and Muskingum counties for more than a quarter century. In addition to estate planning, they can assist with business organization, family law disputes, income tax preparation, personal injury accidents, and civil litigation. To request an initial consultation, visit their website or call (740) 587-2637. 

Other Announcements, Events and Deals from Vernau Law LLC
3 Common Estate Planning Misconceptions, Granville, Ohio
Preparing for the future provides peace of mind and helps ensure your wishes will be honored upon incapacitation or death. However, misinformation about estate planning and its more
What Is the Difference Between Financial and Medical Power of Attorney?, Granville, Ohio
Everyone should think about who they’d like to handle their affairs if they become incapacitated. There are several different legal ways to designate an agent, two of which are more
A Guide to Estate Planning, Granville, Ohio
When you consult an estate planning attorney, you should have a good idea of what to expect. This is an opportunity to set up a strategy for dealing with your assets once more
Why Millennials Should Create an Estate Plan, Granville, Ohio
Despite the importance of preparing for the future, it’s common for those in their twenties and thirties to put off meeting with an estate planning attorney. However, life is more
A Guide to Wills & Real Estate Inheritances, Granville, Ohio
One of the most important steps of sitting down with an estate planning attorney to get your affairs in order is deciding who will inherit any real estate you own. This tends to be more