Bellevue Trust Attorney
Creating Effective Trusts for Clients In & Around Greater Bellevue
Like wills, trusts are another estate planning vehicle that can ensure the financial security of your family and beneficiaries. Many different types of trusts exist that can be structured for specific purposes. These legal documents are extremely versatile and can become effective while you are alive or go into effect after your death.
They can be revocable, meaning you can change them while alive, or irrevocable, meaning they cannot be amended. Unlike a will, they also typically do not need court validation and can go into effect outside of the probate process. This saves time, money, and emotional stress for your heirs.
Secure Your Future with a Bellevue Trust Lawyer
At Jerimy Kirschner & Associates, PLLC, every trust attorney has more than a decade of experience in drafting and executing effective and valid trusts for clients. In addition, our law estate planning firm focuses the lion’s share of its practice on estate law and planning. Thus we have a deep understanding of what various trusts can do, how to create effective trust documents, and how to help you avoid any pitfalls in this matter.
Our estate planning lawyers will start by getting a comprehensive understanding of your estate, family dynamics, and your legal objectives to ensure that we strategize the optimum and most useful trust(s) for you.
What Is a Trust?
A trust is a legal method for the transfer of your estate. It creates a fiduciary relationship in which you as the trustor give someone else (the trustee) the authority to manage your property and assets for the benefit of one or more third parties (your heirs and beneficiaries).
Various types of trusts that can be set up include but are not limited to:
- Living trusts
- Revocable trusts
- Irrevocable trusts
- Charitable trusts
- Trusts set up for those with special needs
- Pet trusts
- Asset protection trusts
What is a Living Trust?
One of the most common trusts used in estate planning is the living trust. These are usually revocable trusts set up to transfer your assets to loved ones after your death. It is named a living trust because it is created while you are alive and you generally act as the trustee, managing your assets according to your wishes. When you pass away, the trustees whom you have designated to administer your trust at that point take over.
They have a legal and fiduciary duty to pass your assets along to your beneficiaries according to the instructions you have left in the trust documents. Because your trust does not have to be “probated,” your assets and belongings can be distributed directly and immediately to your named heirs and beneficiaries.
Benefits of a Trust
The benefits of a living trust are many. It allows you to stay in control of your assets while you are alive and keeps the details of your estate and your plans for its transfer private and out of the courts. It also allows you to name a successor trustee to manage your assets not only after your death but if you become incapacitated as well.
It further allows for the trustee’s management of assets designated for minors to continue until those children reach an age that you have decided is best for them to receive an inheritance.
What is the Difference Between a Will and a Trust?
Essentially, the main difference between a will and a trust is when they can be used. A Will is not effective until after you pass away and the person appointed in the Will is appointed by the Court to distribute your assets in accordance with the terms in the Will. A Living Trust becomes effective as soon as it is properly signed and funded with an asset.
Should You Create a Trust?
Determining if a trust is right for your circumstances and what type of trust it should be will depend on your financial and family situation, needs, and objectives. You should consult with an experienced Bellevue estate planning lawyer to learn more about how trusts work, their value and use, and how a trust can be used in your case. At Jerimy Kirschner & Associates, PLLC, our real estate attorneys can work closely with you to help you determine if a trust is the right solution for you and your family. We take the time to make a detailed assessment of your estate, your family, and how best to serve your needs through the drafting of a customized trust.
A trust can be part of your comprehensive estate plan. Call our Bellevue trust attorney at (206) 203-8802 to learn more today.
"Highly recommended! Jerimy was able to easily answer all our questions and complete all documentation/planning for the trust."- Ryan H.
Award Obtained for Client John Lynch and Kellie Fuhr Family Trust, et, al. v. Tyche Entertainment, LLC
Mr. Kirschner brought a successful suit by members of the LLC to have a receiver appointed over Tyche Entertainment, LLC and dissolution. At trial, Mr. Kirschner was successful in showing over one million dollars in improper transfer to managers and obtained an award for his client.
Justice Sought for Vulnerable Individual In the Matter of the Guardianship of Giulian Grasso
Mr. Kirschner and his co-counsel were successful in uncovering exploitation and misuse of the ward’s funds by the ward’s father which resulted in the father being charged and sentenced for exploitation of a vulnerable person.
Judgment Successfully Overturned Millennium Drilling Company v. Beverly Myers, et. al.
Mr. Kirschner and the appellate team were successful in overturning the judgment rendered by the jury and having a judgment entered in his client’s favor.
Practicing Law since 2010 and earned his Juris Doctor at the University of Nevada-Las Vegas William S. Boyd School of Law.
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Washington, Nevada, the United States District Courts for Washington, and the United States Court of Appeals for the Ninth Circuit.
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