It’s essential to plan for your future, and many people want to leave behind a legacy for their children and other family members. One way to make sure your assets are properly handled after you pass away is by establishing a trust. A trust can go a long way in achieving this goal, but there are definitely considerations you need to have when establishing one. Discover how our team can help when you call us today at Carpenter & Lewis PLLC to work with our Seymour, TN trust lawyer!
A trust is a structured legal tool that lets you place your assets under the care of a designated trustee, who oversees and distributes them according to your wishes. People create trusts for many different reasons, but one of the most common is the desire to bypass probate. Probate often involves delays, court costs, and unnecessary stress that can add to a family’s grief.
By using a trust, you can streamline the transfer of your property and spare loved ones from potential conflict. Trusts can also serve important financial purposes, such as shielding assets from creditors, reducing certain tax burdens, and providing ongoing support for children or relatives who have special needs. Should disputes arise after you pass away, a trust will make the mediation process much easier.
Many people often assume that after they establish their trust, the work is completely done. While establishing your trust eliminates most of the heavy lifting the first time around, it’s wise to update your trust regularly. We recommend updating your trust after major life events, like a marriage or divorce, the birth of a child, or the acquisition of new assets of high monetary value. We’ll make sure any updates to your trust fulfill your wishes as well as the law.
Especially if you have a lot of beneficiaries or assets, it pays to work with our experienced team. Our Seymour trust lawyer brings over 30 years of legal experience, and he can provide you with a tailored solution that meets all your needs.
A trust can be an effective financial tool to pass on your legacy to your loved ones with minimal hurdles, but it needs to be implemented correctly. Discover how our Seymour trust lawyer can help when you reach out to us today at Carpenter & Lewis PLLC to schedule a consultation!
“We own several businesses and have had the pleasure of working with Stephen and his team for over 9 years now. He always comes through in a pinch. They have assisted us with leases, estate planning, company formations and even landlord issues. I highly recommend them for all your business attorney needs!”
Mary Ellen Nichols
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10413 Kingston Pike, Suite 200
Knoxville, Tennessee 37922
New Clients: (865) 509-9600
Existing Clients: (865) 690-4997
Facsimile: (865) 690-4790
10413 Kingston Pike, Suite 200 Knoxville, Tennessee 37922
Also Serving: Farragut TN
New Clients: (865) 509-9600
Existing Clients: (865) 690-4997
Facsimile: (865) 690-4790