Zachary Trusts Lawyer

Trusts Attorney in Zachary, LA

No matter your age, health, or wealth status, creating a trust can have several important benefits for yourself and your loved ones. You should take steps to protect what you have worked so hard to build. Whether you are looking to retire and spend time at the Fennwood Hills Country Club or raise a young family near Zachary Community Park, you need to hire an experienced Zachary trusts lawyer to help protect all that you hold dear.

Work With the Team at Field Law to Create a Trust in Zachary, Louisiana, Today

With offices located in Baton Rouge, Field Law has been helping families protect what matters most for over a decade. We pride ourselves on offering excellent legal services to individuals and families alike, and we are here to help you navigate the complexities of Louisiana estate planning. You can place your trust in our hands and feel fully confident in our ability to protect you, your loved ones, and all that you have worked to build during your lifetime.

The Many Types of Trusts Available to Families in Zachary, LA

Only around 24% of Americans have an estate plan in place, and only around 13% of these individuals have a trust established. Trusts are a versatile, beneficial estate planning tool, but they go vastly underused across the country. This is because many individuals believe trusts are only for the incredibly wealthy. This could not be further from the truth; however, many people never create an estate plan at all.

There are several different types of trusts available to families in Zachary, each of which comes with its own set of benefits. At Field Law, we can review your circumstances and help determine which type of trust fits your needs. These trusts can include:

• Irrevocable trust. This kind of trust cannot be changed, altered, or revoked in any manner after it has been established without the consent of the named beneficiaries. Even in cases where the beneficiaries do agree to the change, it can be extremely difficult to carry out. These kinds of trusts are often the most beneficial when it comes to tax planning.
• Revocable living trust. This kind of trust allows you to stay in control of your assets while you are still alive. It also allows you to determine how these assets can be divided and distributed upon your passing. These trusts, unlike irrevocable trusts, can be changed, altered, or revoked at any point.
• Special needs trust. These trusts work to benefit a person who suffers from a disability. The trust can help supplement the individual’s government benefits without increasing their income level to a point where they are disqualified from receiving these necessary benefits.
• Charitable trusts. These trusts are established to benefit a specific charity or organization of your choosing, or they act as a benefit to the public.
• Spendthrift trusts. In these trusts, the trustee, not the beneficiary, is given control over how the funds are to be spent for the benefit of the heir. This kind of trust can be beneficial in cases where the beneficiary is not yet mature or responsible enough to handle their own finances.
• Generation-skipping trust. These trusts allow you to transfer money to named beneficiaries, usually your grandchildren or great-grandchildren, skipping at least one generation.

At Field Law, you can trust our lawyer to review your life circumstances and determine which kind of trust fits your needs and the needs of your family.

FAQs

What Mistakes Should I Avoid When Creating a Trust?

There are several damaging mistakes that should be avoided when creating a trust. First, choosing to create a trust without the assistance of a lawyer can make it easier to miss certain legal steps that are essential to the validity of the trust. It is also vital to update your trust when your life circumstances change.

Why Do I Need to Hire an Attorney When Creating a Trust?

While there are ways to create a trust without an attorney, having legal support and guidance can make this difficult and complicated process more manageable. Similar to a will, a trust must follow certain requirements and be executed in a certain manner; otherwise, the trust will not be legally valid. Having an attorney on your side can ensure that your trust is established correctly and legally.

Are There Any Disadvantages to a Trust in LA?

Yes, there can be certain disadvantages to creating a trust in Louisiana. If these disadvantages are at play in your case, a trust may not be right for you, and an experienced estate planning lawyer can point you in the direction of tools that are better suited to your circumstances. One disadvantage is that trusts can be more pricey to establish than other estate planning documents. Trusts can often be more difficult to maintain as well.

How Much Does It Cost to Create a Trust?

The amount of money it may cost to create a trust in Louisiana will be highly dependent on the nature of the assets in the trust. For simple trusts that hold smaller amounts of wealth and assets, the costs involved can be relatively low. However, if your trust involves factors like business succession, blended family units, or estates that are valued at a high net worth, the costs involved can become much higher. Different trust lawyers may also charge different rates based on factors like location, experience, and reputation.

Hire a Trusts Lawyer From Field Law Today

When it comes to creating a trust in Zachary, you need to hire a lawyer with the experience necessary to protect your assets and your loved ones. At Field Law, we have a proven track record of success when it comes to ensuring you and your family members are taken care of and that your stability and financial security can last generations. Contact our Baton Rouge offices today to learn more about how we can help and to schedule your free consultation.

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