Asset Protection for Families

What type of Trust is right for you and your family?

In common law, a trust is a relationship whereby property is held by one party for the benefit of another. In general the owner placing property into trust turns over part of his rights to the trustee, separating the property's legal ownership and control from its equitable ownership and benefits.

Trusts, however, can get complicated. For example a Revocable Living Trust is a type of trust that can be changed at any time. In other words, if you have a second thought about a provision in the trust or change your mind about who should be a trust beneficiary or even trustee, you can modify the terms of the trust.

At J.A. Kruse Law LLC, we're experts in designing the right trust for your needs. A properly designed trust should help you to:

  1. Manage your assets outside of probate with privacy.
  2. Take advantage of estate tax laws to transfer assets with little or no death tax.
  3. Protect heirs from creditors and ex-spouses.
  4. Transfer the family business.
  5. Hold life insurance while avoiding death tax on the benefits.
  6. Take care of a special needs child and preserve their public benefits.
  7. Direct specific assets to specific persons along with your Will.