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The old adage “You can’t take it with you” is certainly true, but with the help of the estate planning team at Roybal-Mack & Cordova, PC you can exercise greater control over what happens to the wealth you’ve spent your lifetime building. Our attorneys can help you understand different types of trusts you may create and choose the vehicle that best meets your needs now and upon your passing.
A trust is a legal document that creates a means for assets to be held in trust for the benefit of a trustor (also called a grantor or settlor)—the person creating the trust. Upon the death of the trustor, a successor trustee—the person managing the trust—oversees the process by which the assets are distributed as the trustor intended, not according to the rules governing probate and intestate succession.
There are different types of trusts that may be created, including:
Irrevocable trusts cannot be changed once they are created. To understand the implications of placing assets in an irrevocable trust, it may be best to consult with an experienced attorney.
The creation of a trust affords trustors a number of benefits over a will, including:
Trusts can prevent costly disputes that often arise when distributing an estate.
Trusts can only afford the protections and control you desire if they are properly designed. To ensure that your trust allows you the benefits of control over your assets during your lifetime and provides for distribution according to your wishes upon your passing, you are best served by consulting with an experienced attorney.
The Roybal-Mack & Cordova, PC estate planning team takes the time to understand the diversity of your assets and your wishes for your legacy. We help you create the legal and financial vehicles that best meet your needs.
Contact us to schedule an initial consultation. If you are unable to meet at our Albuquerque office, please ask about our remote consultation options.
Call us to interview our Albuquerque-based team and take the legal action required to move towards a better future.