A Sanford trusts and estates attorney helps individuals plan for their final days and effectuates their desires when it comes to distributing their earthly goods. Making these arrangements is important for all individuals, but it is especially important for parents. A Sanford trusts and estate attorney can help a grantor in the following ways:
Protect Children’s Financial Futures
A trusts and estates attorney can help draft a trust based on your preferences. You can transfer assets of your choosing to the trust and appoint a person whom you trust to act as the trustee. This person is tasked with the responsibility of following your instructions as outlined in the trust. You can also structure your trust in different ways, depending on your circumstances. For example, if you have a child with special needs, you can structure the trust in such a way that you will not hinder your child’s ability to receive other benefits that he or she is entitled to. By taking these steps, you can ensure that your children have the financial resources that they need even if you are no longer there to provide for them.
Name Responsible Parties
A trusts and estates attorney can help you identify parties that you believe would act responsibly toward your children and can use this information to attach legal connections. For example, he or she can name a guardian in your will who you think would be the best person to raise your children if you cannot do it for yourself. You can appoint another person to handle the children’s property while they are still minors.
Unlike a will that requires an outright gift to a beneficiary, a trust allows you to give gifts to your children with strings attached. For example, you may wish to withhold certain funds until your child graduates college or reaches a certain age.