Maybe you want your family to avoid the probate process once you’re gone. Or maybe you want to set up a college fund for your children. Setting up a trust is a way to accomplish those goals, and the trust attorney, Carolyn Duncan, at Carolyn Moller Duncan, P.C. can help you do it.
A trust is an arrangement in which property is held by a third party for the benefit of another. The creator of the trust, or the settlor, transfers some or all of their property into a trust. The settlor will name an individual, a company or a public body to act as a trustee. The trustee or trustees will manage the trust for the benefit of the designated beneficiaries.
Trusts may be created for estate planning purposes or Medicaid planning purposes. Many choose to add testamentary trusts to their wills to outline how a trustee should handle money and property for the benefit of beneficiaries once the creator dies.
Setting up a living trust can be difficult. The trust attorney at Carolyn Moller Duncan, P.C. works to make it easy. Schedule an appointment in Littleton, CO as soon as possible by calling 303-394-2358.
There are two main types of trusts, a revocable living trust and an irrevocable trust, each of which has numerous variations that serve different purposes. You may need more than one trust to achieve your desired results.
Let Carolyn Moller Duncan, P.C. help you figure out which type of trust is right for your goals and needs and guide you through the creation and execution of your trusts. Contact a trust attorney today for a free consultation. We serve clients in Littleton, CO and Arapahoe, Jefferson, and Douglas counties.