Bryan College Station Trust Attorney
Trusts & Trust Administration
Trusts are a versatile tool used in estate planning, wealth preservation, charitable contributions, and tax planning. While the benefits are many, the consequences of a poorly drafted trust can be significant.
Each Trust has at least three parties: (1) Grantor: the individual or entity that funds the Trust with property to be owned by the Trust; (2) Trustee: the individual or entity to manages the property owned by the Trust; and (3) Beneficiary: the individual or entity that has the beneficial interest in the property owned by the Trust.
The Trustee can be one or more persons, or even a Trust Company that specializes in serving as Trustee. Beneficiaries can be one or more individuals or charitable organizations that receive the benefit of the Trust property during the term of the Trust.
Middleton & Middleton has extensive experience in the area of drafting, administering, and advising on the proper uses of Trusts. Below is a list of some of the areas in which we serve our clients:
- Revocable Living Trusts
- Irrevocable Trusts
- Irrevocable Life Insurance Trusts (ILIT)
- Charitable Trusts (CRUT, CRAT, CLAT)
- Gift Trusts (2503(c))
- Qualified Personal Residence Trusts (QPRT)
- Special and Supplemental Needs Trusts
- Trust Administration
- Trustee Fiduciary Litigation
- Trust Termination and Modification
Benefits to Creating a Trust
Some of the benefits to creating a Trust include
- Management of assets for minors or persons without financial maturity
- Restrictions and conditions on the use of property after you die
- Reduction or elimination of Estate Tax and Gift Tax
- Continuity of management of your assets during disability
- Creditor protection
- Anonymity in ownership of property
- Wealth preservation
- Avoidance of the probate process and subsequent immediate availability of assets to the Trust beneficiaries at death
Contact Middleton & Middleton today to discuss your Trust needs.