Trusts Lawyer in Cedar Rapids Optimizing the Estates of Our Clients Throughout Iowa
Having flexibility when it comes to your estate and your assets is essential for many people in Cedar Rapids and surrounding areas. More and more people are developing estate plans to maximize the effectiveness of their assets and their estate. One of the most effective legal tools that can not only optimize the assets of an estate but can protect them from liabilities is a trust. Setting up a trust can be a great way to protect your assets and your estate long into the future. A Cedar Rapids trusts attorney can make it easy for you to get started on developing the right trust for your needs. To contact Scott Shoemaker & Associates, PLC, call us at 319-804-8346 to see how we can help you with your estate planning needs.
What is a Trust?
A trust is a legal tool that is designed to serve a multitude of purposes. Depending on the type of trust you are utilizing, a trust can help you protect your assets from liabilities. For example, if you set up a trust with the help of a Cedar Rapids trusts lawyer, the assets within your trust can become exempt if someone files a lawsuit against you or if a creditor seeks repayment.
Trusts can also be utilized to minimize the tax impact your estate receives. With the dynamic structuring of a trust, you can optimize your assets and protect your assets at the same time.
In many cases, clients will come to us wondering if developing a trust can help their estate avoid probate. Trusts can be used as an effective way to avoid probate which can provide your beneficiaries and estate with tremendous benefits including avoiding unnecessary court costs, avoiding costly attorney’s fees, optimizing your estate’s taxes, as well as expediting the process, and avoiding the unwanted public exposure that probate can bring.
Our law firm wants to make creating a trust as easy as possible. We will first talk to you about the ways trusts are used, what kinds of trusts might be right for your needs, and what is needed from you after the structure has been set up. Get started today by contacting a Cedar Rapids trusts lawyer.
Are Trusts Worth Creating?
Trusts can be a major boon for your estate. Because of the versatility of trusts, you can ensure that your estate and the assets within it are protected at all times. The flexibility of any given trust can provide you with enormous benefits and control over your estate. For example, in a spendthrift trust, any assets you use to fund your trust can end up being distributed to a beneficiary whenever they are ready, in incremental amounts.
A trust like this can be worth setting up if your beneficiary is underaged or has problems with managing finances. There are a variety of other types of trusts that can fit your needs. Let us help you develop a trust that is right for you.
What Can a Trusts Attorney Do to Help Me?
Trusts can be incredibly complex. Having the right Cedar Rapids trusts lawyer to help you develop and structure your very own trust can be critical to your trust’s stability later down the road. Our law firm can assist you in structuring your trust and helping you fund your trust as well.
However, our job doesn’t end after we set up a trust for you. We will always be here to support you as your circumstances change. Some trusts can be revoked after they have been established. Other trusts cannot be revoked but can be modified. Whatever you need in regards to your trust, our team of legal professionals can do whatever it takes to help you with your trust-related needs.
When Should I Contact a Trusts Attorney?
The sooner you reach out to a Cedar Rapids trusts lawyer, the sooner you can reap the benefits of asset protection and asset optimization. We strongly believe each and every one of our clients deserve the best possible legal assistance for their estate planning needs. Let us help get you where you want to be. Give Scott Shoemaker & Associates, PLC a call at 319-804-8346 to learn more about creating a trust that fits your needs and get the help you deserve to secure your future.