Knowledgeable MI Attorney Creates Secure Trusts
Comprehensive counselor helps clients to provide trusts for the benefit oftheir loved ones
At the Law Offices of Matthew A. Courter, P.L.C., I utilize my experience to advise clients in Washtenaw, Livingston, and Oakland Counties on the best means to meet their financial and estate objectives, including the efficient distribution of assets and estate tax avoidance. Trusts are legal entities created to hold and transfer property. These instruments provide benefits such as shielding your financial assets from losses due to liability and taxation, so your heirs can keep more of what you pass down to them. Distributing assets via a trust can also keep the details of your estate confidential, unlike the public probate process that is used for wills.
Experienced MI lawyer designs trusts tailored to your estate planning goals
There are several types of trusts, with each offering situation-dependent pros and cons. A qualified lawyer can help you select the type of trust instrument that addresses your legacy concerns. At the Law Offices of Matthew A. Courter, P.L.C., I handle:
- Revocable trusts — As the grantor of a revocable trust, you can retain control of your assets during your lifetime and may revoke or revise the trust at any time. Living trusts are a popular form of revocable trust.
- Irrevocable trusts — Once you establish this kind of trust, its assets no longer belong to you, and you cannot amend the trust without your beneficiary's consent. However, any appreciated assets in the trust are not subject to estate taxes.
- Credit shelter trusts — Also called bypass or family trusts, credit shelter trusts allow a grantor to place enough wealth in a trust for heirs so that the grantor can pass down the remainder of their wealth via a will that does not trigger an estate tax. The assets in the credit shelter trust are not subject to estate tax.
- Generation-skipping trusts — Also called a dynasty trust, a generation-skipping trust enables a grantor to transfer a substantial amount of tax-free money to beneficiaries at least two generations below them. It can be an excellent way to provide a legacy for your grandchildren.
- Special needs trusts — If someone in your family has a disability or special needs, this type of trust can be used to help meet future financial needs.
Trusts are very flexible instruments. I can help you create one that addresses your unique estate planning needs. I also counsel clients who want to augment their asset protection by reviewing existing insurance policies and recommending ways to reduce exposure to liability.
Contact a skilled MI trust and estate planning lawyer
Law Offices of Matthew A. Courter, P.L.C. in Whitmore Lake serves clients throughout Southeast Michigan who wish to protect their assets with a trust. Call me at 586-206-1349 or contact me online to schedule a free consultation.