Primary Goal of this Step
Set up trusts to minimize estate taxes, avoid probate, and seamlessly transfer your assets to your heirs.
Important Tasks: Establish Trusts
Determine the type of trust that's best for you
Trusts can accomplish a range of goals, including avoiding probate, minimizing estate taxes, and making sure your heirs receive as much of your money as possible as quickly as possible. The type of trust you set up will depend on what your goals are.
Decide if you’re going to create the trust yourself (online) or with the help of an attorney
There are many online legal services that can help you create a trust. Since trusts are incredibly complicated, you may want to consider working with a trust and estate attorney. In addition, there are online services that offer personalized online legal advice from an attorney, which can be a more affordable option.
If you’re going to create a trust online, find the right forms to do it yourself.
Factors to take into consideration when choosing an online legal service include cost, completion and delivery time, and the services offered by the site. For example, some online legal services will submit your documents to review by a paralegal after completion, while others will not.
If you’re going to hire an attorney, find the right person.
The right trust and estate attorney will be someone with significant experience in handling the issues you’re dealing with. Talk to friends, family members, and other attorneys to get recommendations. Meet with the attorney you’re considering before hiring him or her.