Des Moines Trust Lawyer

Professional Legal Assistance You Can Trust

Our Des Moines, IA trust lawyer can be an invaluable partner in securing your financial legacy. If you have questions about trusts or need assistance with trust creation, management, or administration, don’t hesitate to reach out to our experienced team of legal professionals. Attorney Christopher Johnson is one of our founding partners and works hard to protect the rights of his fellow Iowans. Contact Law Group of Iowa for more information on how you can safeguard your assets and provide for your loved ones.

Set Up Inheritance

When you pass away, you can dictate at what point your beneficiaries get their inheritance. If you do not specify, legal issues can ensue. If you want your beneficiaries to receive their inheritance at a particular time, you must say so. We can ensure the estate follows your wishes. It is valuable when you have a child with special needs as well. You can ensure they have special care. This point is essential when you have a child or family member with special needs and are unsure if someone else can care for them. Consulting with our Des Moines trust lawyer can put your mind at ease.

Experienced And Personalized Advice

If you do not know how to set up a trust, we can advise you. You must understand legal terms so you and your family can get benefits. A lawyer can assist with this and ensure no issues arise when writing wills or other documents. If your directions are complicated, a lawyer can ensure that those carrying out your last wishes understand what you want. A trust is usually more flexible than a will, so keep this in mind when consulting with a lawyer.

Large estates that are particularly complex can be confusing for you. Sound legal advice is essential when thinking about your family and estate. If you do not have a trust or clear directions about what to do with your money, your family could end up in probate court. 

You can also receive advice about how to fund the trust. If you are unsure about where the money will come from or how your beneficiaries will get it, an attorney can help. While hiring an attorney does come with a fee, ensuring your documents are clear and legal is necessary.

The Difference Between Wills And Trusts

You might have heard of wills before, and if you’ve planned for the future, chances are you’ve already looked into how a will can provide for your family after you pass away. However, while planning, you may have encountered another term – one that might not get as much attention in the public eye: Trusts. What are trusts, and what sets them apart from a will?

At their core, wills and trusts perform largely similar functions. It’s even possible for an individual to have both a will and a trust. While both wills and trusts are meant to ensure your estate is properly divided when you die, there are a few important differences to keep in mind. What you learn may help you decide how best to plan your estate.

Wills

A will is a list of assets and beneficiaries. The contents of a will can be divided up between your family, friends, and pretty much anyone else named in the will. However, wills can be a little complicated when it comes to execution. A will is available on public records – it’s nowhere near as private as a trust – and a will also means probate court.

Probate is the legal proceeding in which your assets and debts are distributed across your beneficiaries: While you might hope it goes smoothly, it’s oftentimes a very contentious process. There may be some bad blood between your beneficiaries, or there may be some bitter arguing over who gets what. If you have some family members who might be a bit estranged, or particularly greedy ex-wives or ex-husbands, probate can become a major headache for everyone involved. Plus, it means estate taxes; your beneficiaries might not receive quite as much money as they (or you) hoped.

The main thing to keep in mind when considering a will is the ease of drafting a will versus the ease of execution. A will leaves some room for argument between your family members after you die but a will is generally easier than a trust to draft and maintain. Once a will is written up, it’s written up.

Trusts

Trusts are a little more complicated to maintain than their will counterparts. They’re also a bit more expensive to fill out. A trust requires active management after it’s created, because (unlike a will) it becomes active the moment it’s completed. (A will is only active after you die).

However, trusts have plenty of upsides, too. Unlike a will, a trust names a third party to handle your estate once you die. This means no probate court, and it’s a good way to avoid potential conflict between family, friends, and any other beneficiaries. A trust assigns assets to beneficiaries, and those terms are set in stone: a trust is uncontestable. A trust can also get around estate taxes, which means more of your money goes to the intended recipients upon your death.

Unlike a will, which is easy to draft but difficult to execute, a trust is the opposite. A trust requires active management, but after you die, there’s little room for argument and bitterness. Our Des Moine trust lawyer can support you through all aspects of creating and managing trusts.

Setting Up A Trust

• Start By Getting Help

If you’ve never used a trust before, you should start by getting legal counsel. You can contact your lawyer or use an online service to help you get started. If you feel comfortable enough with the ins and outs of building a trust, you are legally allowed to open one on your own. 

• Create Your Official Trust Document

You need an official trust document to outline the many different facets of your trust. This document should clearly define your grantor, your assets, any beneficiaries who might receive these assets, the trustee in charge of your trust, and any successors who might take over if your trustee becomes unavailable. You may also want to create a certificate of trust, which proves the existence of your trust and the validity of those involved with it.

• Sign Your Trust

Your trust is not considered legally binding until it bears your signature as well as those of two uninvolved witnesses. Not every state requires a trust to be notarized, but it’s always a good idea to do so. Having the document notarized can prove the validity of your trust and prevent instances of fraud. 

• Set Up A Trust Fund Account

The next most important step is to set up a trust fund bank account. This is the account that provides money to any of your beneficiaries; it’s best to start with a brand-new bank account, but you may be able to register an existing bank account to this trust depending on the institution you’re going through.

• Move Your Assets

Once your trust has been established and notarized, you’ll want to make sure your assets are included in it. This applies to asset titles for vehicles, property deeds, and certificates of ownership to heirlooms or other valuable possessions. If you experience any major life changes or obtain new assets, you should update your trust accordingly.

• Designate Beneficiaries

After you’ve included all your assets and your trust, you’ll want to name some beneficiaries to receive them if anything happens to you. These assets are considered payable on death, so your beneficiaries will have access to your trust without the need for probate. If you’re not sure what probate is, the Law Group of Iowa can help.

Planning your estate can be a challenging and complicated experience, especially if you’re taking the steps to make things easier for your beneficiaries by putting together a trust. While it’s possible to write your own trust, it can be hard to do without legal guidance. Fortunately, we understand the importance of proper estate planning, and we’re happy to help you decide how best to plan for your future.

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Trust Statistics

According to a survey conducted by Caring.com, even though 56 percent of Americans believe estate planning is important, only 33 percent have taken the steps to have end-of-life plans put in place. In one year, 75 percent of those plans included wills, 20 percent were trusts, and 6 percent were the naming of guardians for minor children.

FAQs

It is always important to know what you are dealing with before paying for a service. Continue reading to learn more about what trust lawyers can do and how they could help you!

Why Would I Need A Trust Lawyer?

You may need a trust lawyer for several reasons. First, if you have substantial assets that you wish to protect and manage for the benefit of your loved ones or charitable organizations, a trust can be an effective tool. Your lawyer can help you navigate the complex legal requirements and customize the trust to meet your specific needs.

Second, if you want to ensure that your assets are distributed according to your wishes after your passing, a trust lawyer can help you draft a comprehensive trust document. This document will specify how your assets should be distributed and managed, potentially avoiding disputes among your heirs in the future.

Finally, if you have been appointed as a trustee or are the beneficiary of a trust, a trust lawyer can provide guidance on your legal responsibilities, rights, and options. They can help you navigate the complexities of trust administration and ensure that the trust operates smoothly.

What Types Of Trusts Can A Trust Lawyer Assist With?

Trust lawyers can assist with various types of trusts, including revocable living trusts, irrevocable trusts, testamentary trusts, special needs trusts, and charitable trusts, among others. Each type of trust serves different purposes, and a Des Moines trust lawyer from Law Group of Iowa can help you determine which one is most suitable for your specific circumstances.

How Can A Trust Lawyer Help With Trust Administration?

Trust lawyers can assist with various types of trusts, including revocable living trusts, irrevocable trusts, testamentary trusts, special needs trusts, and charitable trusts, among others. Each type of trust serves different purposes and your lawyer can help you determine which one is most suitable for your specific circumstances.

What Should I Consider When Choosing A Trust Lawyer?

When selecting a trust lawyer, it’s essential to consider their experience, expertise in trust law, and track record of success. Additionally, you should feel comfortable discussing your financial and personal matters with them, as trust matters can be highly personal and sensitive.

How Much Does Hiring A Trust Lawyer Cost?

The cost of hiring a trust lawyer can vary based on factors such as the complexity of the trust, your location, and the lawyer’s experience. It’s advisable to discuss fees and payment structures with your chosen trust lawyer upfront to ensure transparency and clarity regarding costs. We would be happy to set up a consultation to go over your budget to determine what kind of services would be best for you.

How Do I Get Started With A Trust Lawyer?

To get started with a trust lawyer, you can schedule an initial consultation. During this meeting, you can discuss your specific goals and needs with the lawyer, and they can provide guidance on the best course of action. It’s important to gather relevant financial information and documents to share with the lawyer during this process.

Law Group of Iowa, Des Moines Trust Lawyer

5601 Hickman Rd., Suite 3B, Des Moines, IA., 50310

Contact Our Firm Today

Call or message us today to schedule a consultation with our Des Moines trust lawyer and take the first step toward safeguarding your assets and securing your legacy.

Client Review

“I had the pleasure of working with Attorney Jason Yates. He is very responsive, professional and knowledgeable. I trusted him completely to help me navigate my case, and the outcome was better than I had hoped for. I recommend him to anyone looking for good representation. Thank you Jason!” Libby Hennings