The first step to getting the things you want out of life is this: Decide what you want.
Using Trusts To Achieve Your Goals
Can you maintain access to your assets while preparing to pass them to the next generation? How will estate or death taxes affect my family? Huffman Law Offices, P.C., of Maryville, Illinois, addresses your goals through knowledgeable trust planning. We advise clients on living trusts and other appropriate instruments as part of a comprehensive estate strategy.
Experienced Estate Planning Lawyers in Central Illinois Free Initial Consultation • Toll-Free: 866-842-3430
Sophisticated Application of Trusts
Trusts are an important tool in estate planning to accomplish a variety of purposes:
Efficiency — Avoiding the expense and delay of probate
Tax planning — Reducing the estate tax burden
Asset protection — Keeping assets out of reach of creditors
A revocable trust allows you to control and use assets while still holding them outside of your estate for tax and probate purposes. An irrevocable trust, such as a life insurance trust, preserves assets in the name of specific beneficiaries, but the person creating the trust cannot regain control of those assets. A living trust is established while you are alive, while a testamentary trust transfers assets to recipients upon your death.
Tailored to Your Situation
Our attorneys are familiar with the various twists on each of these categories. The key is knowing which type of trust is right for each client’s needs. And the key to knowing your needs is taking the time to sit down with you to discuss your goals and your asset portfolio.
Whether you are establishing a wealth preservation plan or changing an existing living trust, contact us for a free initial consultation. We can meet clients at five office locations in Maryville and surrounding counties.