Wills, Trusts & Estate Planning

Have you considered what will happen when passing your estate to your heirs? Without a proper estate plan there can be major tax implications and severe headaches for those inheriting your assets.


What is Estate Planning?


An estate consists of everything you own: home, car, bank accounts, investments, life insurance, furniture, personal possessions, intellectual property, etc. No matter the size, nearly everyone has an estate and, since you can’t take it with you, it’ll be left to someone else. 


How your heirs receive your estate is another matter altogether. It can be an easy and smooth transition or it can be sloppy and difficult. This mostly depends on how the estate is set-up beforehand.


atCause Law Office can help to ensure the process is as effortless as possible.


What is a Trust?


A trust is a legal entity that is established to hold, safeguard, control, and distribute your assets. 


It is managed by a third party, known as a trustee. This person or firm is appointed by you and they will be responsible for ensuring that your estate is handled in the manner you outlined.


What are the Benefits of a Trust?


Many people think trusts are only meant for large estates, but that isn’t always the case. Trusts can be beneficial for the following reasons:


  • Can help to avoid probate court so beneficiaries can receive assets sooner

  • Trusts may reduce or eliminate estate and gift tax

  • Privacy of your personal and financial matters

  • Control of your finances after passing away

  • Reduce the likelihood of a court challenge


What Next?


These are just some of the basics regarding trusts and estate planning. For more information please call us at 727-477-2255 to set-up a consultation.