At Heritage Law Office, our experienced attorneys specialize in providing legal services related to trusts in Green Bay, Wisconsin. Trusts can be a powerful tool for estate planning, and our knowledgeable attorneys can help you understand the different types of trusts available and which one is best suited for your unique situation. Contact us either online or at 414-253-8500 to schedule a free consultation today.
What is a Trust?
A trust is a legal arrangement where a trustee holds and manages assets for the benefit of one or more beneficiaries. The trustee is responsible for managing the assets in the trust according to the wishes of the trust creator, also known as the grantor. Trusts can be set up for a variety of reasons, including to avoid probate, minimize taxes, and provide for the needs of loved ones after the grantor's death.
Types of Trusts
There are several types of trusts available, each with its own set of rules and benefits. Some common types of trusts include:
Revocable Living Trust
A revocable living trust is a trust that can be changed or revoked by the grantor during their lifetime. This type of trust can help avoid probate and provide for the needs of loved ones after the grantor's death.
Irrevocable Trust
An irrevocable trust is a trust that cannot be changed or revoked by the grantor once it has been established. This type of trust can be used to minimize taxes and protect assets from creditors.
Testamentary Trust
A testamentary trust is a trust that is established through a will and takes effect after the grantor's death. This type of trust can be used to provide for the needs of loved ones after the grantor's death.
Choosing the Right Trust
Choosing the right trust for your situation can be a complex process, and it's important to work with an experienced attorney who can help guide you through the process. At Heritage Law Office, our attorneys will work closely with you to understand your unique needs and goals and recommend a trust that is best suited for your situation.
Benefits of Trusts
There are many benefits to setting up a trust, including:
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Avoiding probate: Assets held in a trust can be distributed to beneficiaries without going through the probate process, which can be time-consuming and expensive.
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Minimizing taxes: Some types of trusts, such as irrevocable trusts, can be used to minimize taxes.
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Protecting assets: Trusts can be used to protect assets from creditors and ensure that they are distributed according to the grantor's wishes.
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Providing for loved ones: Trusts can be set up to provide for the needs of loved ones after the grantor's death.
Contact a Trust Attorney in Green Bay, Wisconsin
If you're considering setting up a trust in Green Bay, Wisconsin, contact the experienced attorneys at Heritage Law Office. We can help you understand your options and recommend a trust that is best suited for your unique needs and goals. Contact us either online or at 414-253-8500 to schedule a free consultation today.
Our Service Areas
In addition to Green Bay, we offer our legal services related to trusts in other cities in Wisconsin, including:
- Milwaukee
- Madison
- Kenosha
- Racine
- Appleton
- Waukesha
- Oshkosh
- Eau Claire
- Janesville
- Mequon
- Elm Grove
- Fox Point
- Bayside
- Shorewood
- Whitefish Bay
- Fitchburg
- Brookfield
- Waunakee
- Cedarburg
- And more
We also offer remote, phone, and online appointments, so you can receive our services no matter where you are located in Wisconsin. At Heritage Law Office, we are committed to providing our clients with high-quality legal services that meet their unique needs and goals. Contact us today to learn more about how we can help you with your estate planning needs.