Newport Divorce Attorney can create a legal living, family trust for you, one that holds assets you use during your lifetimes. Then, your trust avoids the cost and delay of probate, and benefits your surviving beneficiaries. Special needs trusts are also available to distribute restricted sums to avoid loss of other sources of benefits. Other trusts, or trust terms are designed to avoid capital gain or income taxation and take advantage of the savings of certain tax incentives.
Newport Divorce Attorney recommends a Will, and not a trust, only if there are modest assets, the total of which will allow for a summary probate. As in a trust, you may direct the distribution of your assets and debts, appoint a guardian for your children and accomplish other planning tasks. Or, these days, a Will is usually prepared only to “pour over” overlooked or later acquired assets into your trust.
Family & Estate Planning
When creating one or more trusts will not achieve the best tax treatment for your estate, such circumstances will take the particular experience, training, skills and creativity of a Newport Divorce Attorney to advise. Call on NDA (949) 752-2727
Retirement, succession, or turning over control to a family member, or the sale or transition away from operating the family business all pose issues of valuation, financing and possibly conflicting wishes and goals. Newport Divorce Attorney offers you experience in family and business dispute resolution, plus creativity in drafting agreements that work. Call on NDA (949) 752-2727.