Trust Attorney in Raleigh
Protect Your Assets & Your Family’s Future
One of the most important purposes an estate plan fulfills is the transfer of property from one generation to the next. A will can accomplish this, but a trust may be a better legal instrument for those who wish to avoid probate, protect their privacy, and protect their assets during their lifetime. If you wish to form a trust, an experienced attorney can help you work toward achieving your goals.
At Oak City Estate Planning, we can provide all of the services you need to protect your wealth and secure your family’s future. With more than 30 years of experience, we have the knowledge and skills necessary to provide each client with a personalized experience. This means that we approach each client’s situation from an individualized perspective, customizing our legal services to help them achieve their goals.
For more information about how our trust lawyer in Raleigh can help, contact Oak City Estate Planning online today!
What Forming a Trust Can Do for You
A trust is a legal agreement that permits a trustee to manage the assets during your life and after you pass away. There are many reasons why people form a trust because there are many different kinds of trusts available.
The following are the main reasons why people choose to form a trust:
- Trusts avoid the probate process, which can cost your loved ones a lot in time and court fees to settle your estate.
- Trusts can be flexible, as is the case with a revocable living trust. Once created, these trusts’ terms can be changed at any time. That means beneficiaries can be changed, property can be added or removed from the trust, and more.
- Trusts can be very specific, giving grantors a precise level of control over what happens to their property during their lives and how it’s distributed after they’ve passed away. Some trusts can even survive the grantor, providing limited disbursements over time to a beneficiary who might need help managing a large sum of money.
- Trusts can protect you during incapacity or when you are too injured or ill to manage your own finances. Your trustee can step in to make distributions on your behalf to pay bills and even file tax returns.
- Trusts can mitigate the impact of federal estate taxes if your estate isn’t exempt from these. Holding assets in an irrevocable trust can protect them from unnecessary taxation when you die, preserving as much wealth as possible for your beneficiaries.
Why Should I Want to Avoid Probate?
All revocable and irrevocable trusts avoid probate, which is often the most important reason why people choose to establish a trust at all. As previously mentioned, avoiding probate means keeping your estate out of probate court, which can take a long time to settle and chip away at your estate’s value.
Another important reason why people want to avoid probate is to preserve privacy. Probate records are public information, which means anyone can access information about your estate’s value, debts, distributions, and other details that one might wish to keep private.
My husband (46 years old) died suddenly in his sleep without warning. I was 6 months pregnant and had a 2-year-old and a 5-year-old. Planning for our deaths was not a seemingly urgent thing to do in our life phase. Once we became parents we knew how important it was to have a will and a trust so that our plans and hopes for our children could be fulfilled. But, as things often do, stopping for a moment to get this done just didn't happen. It was so much easier to keep kicking the can down the road and letting our future selves worry about that issue.- C.A.
In the grief of losing my husband, children's father, and family's provider there was also so much administrative burden to handle. Had we already had our will and our assets can figured as they should have been, so much fear, anxiety, and confusion could have been avoided.
Right after my husband's death, I contacted Lars and he helped me create a trust, will, and healthcare directive -- I wanted to have this in place before the birth of my third child. It gave me incredible piece of mind to know that my children would be provided for in the manner I would want it to be, as well as knowing I would eliminate my family from unnecessary administrative and financial burdens. And amazingly, it did not take more than a few hours of time!
I highly recommend everyone have a will, but particularly anyone with children or loved ones that will need care should you die. I learned the hard way that you don't plan ahead for the The things that are likely to happen, but for the things that may happen. Thank you Lars for giving me great peace of mind!
Lars is great! He walked us through the process and made sure that we understood each step. He helped create new categories in the planning process that will ensure we provide our family a detailed outline of our wishes. Highly recommend him to anyone looking to start or continue their estate planning journey.- W.S
My wife and I found working with Lars Kissling to be a productive and enlightening experience. His knowledge of estate planning is extensive. He patiently answered our questions and showed both concern and compassion about our own situation. We recommend Oak City Estate Planning. It is truly an investment in your family's future. I think Lars' services are needed by all, especially for families with small children or those with special needs. The end result is piece of mind going forward.- B.B
My husband and I were very satisfied with the professional advice from Lars. He recently assisted us in updating our estate plan. He led us through a process that provided clarity on our goals for our plan. We would highly recommend Lars Kissling to others.
“He was a great help to me and was very patient to explain all my options, many of which I did not know I had. He also helped me find financial planners which I desperately needed.”- Mary M.
“The process was easy and we now have a robust estate plan that covers any and all eventualities, protecting both ourselves and our beneficiaries. We highly recommend Lars at Oak City Estate Planning, having done so with friends and colleagues.”- Phil B.
1IntroductionAfter signing up for a vision meeting, you will watch a video that provides an overview of estate planning.
2VisionDuring this meeting, you will meet with Mr. Kissling and discuss your case and specific planning needs.
3DesignThe second meeting with the attorney involves sitting with Mr. Kissling and actually putting your plan together.
4SigningIn the third and final meeting, you will review the plan, tie up any loose ends, and sign your finalized plan.
Should I Form a Revocable or Irrevocable Trust?
The two main types of trusts in common use are revocable and irrevocable trusts. Each of these types can be customized to fulfill a specific purpose, but ultimately a trust will fall into either category.
A revocable trust provides a lot of flexibility because its terms are revocable. Once created, the grantor can change specific aspects of this trust, such as its beneficiaries, funding, and more. Many people choose to hold their estate in a revocable living trust because this type of trust allows them to accomplish important estate planning goals without feeling locked into any specific decisions.