Trusts are not just for the wealthy. People of all different backgrounds pursue trusts as a customizable solution for addressing their long-term goals.
Why Consider A Trust?
There are many reasons to consider a trust instead of — or in addition to — a will and other estate planning documents. Trusts are more flexible than wills. They allow you to plan ahead for virtually any type of scenario. For example, if you want to leave money or assets to minors, a trust will safeguard that property until they reach adulthood.
Different types of trusts can be tailored to accomplish specific purposes. They may help minimize estate taxes. They can also be used to avoid probate, sparing your loved ones the expense and difficulty of extended court proceedings.
Common trusts include:
- Living trusts to avoid probate while retaining control over your assets during your lifetime
- Life insurance trusts to minimize estate taxes on life insurance proceeds
- Special-needs trusts to provide for loved ones with disabilities without impacting their eligibility for public benefits
- Testamentary trusts, which go into effect through a provision in your will
There are many more types of trusts than those listed here. An experienced lawyer like me can walk you through your options.
Is A Trust Right For You?
To learn more about whether a trust is right for you, contact me, Allen Schuldenfrei. I am both an attorney and a certified public accountant (CPA) serving clients throughout the Harford County area of Maryland.
My background is especially suited for navigating complex estate planning issues. In addition to over 30 years of legal experience, I hold a master's degree (LL.M.) in taxation and have held several prominent positions in the tax field. This means I understand all facets of trusts — from a legal, financial and tax perspective.
You can reap the benefits of well-rounded guidance rooted in my multidisciplinary background in law, finance and taxation.
Arrange a confidential consultation by calling my office in the Baltimore area at
Call 410-358-7435. I look forward to working with you.