At the Dennison Law Firm, P.C. in Greenville, attorney Carole Dennison has more than 30 years of experience delivering knowledgeable, practical counsel to clients, including skillful guidance on trusts and estate matters. My firm is committed to protecting the people and assets most important to you, which often means making arrangements that maximize the benefit to your loved ones. Trusts are an excellent legal tool to transfer assets for future use while setting strict guidelines for how, when and to whom those assets can be dispersed. It is much harder to enforce such conditions when bequeathing assets in a will. Best of all, trusts are highly customizable and can be set up for many different purposes. Using a personalized approach that lets you understand how a trust can work in conjunction with other estate planning methods, my firm will help you determine what solutions work best for you.
Trusts may be revocable or irrevocable depending upon whether the terms can be changed. A trustee, often the trust creator, is legally responsible for carrying out the directions that are stated in the document. In most cases, a trust starts as revocable so that the creator can shift assets, revise terms or dissolve the trust entirely if so desired. Most estate planning trusts become irrevocable when the creator passes away. Often at this point, assets are dispersed to the named beneficiaries. Many families use trust instruments to avoid the probate process.
Different kinds of trusts are established for specific purposes. Three common examples are:
Many trusts have tax implications and how they are structured may influence whether the estate is subject to probate. My firm will work to find the most appropriate trust to meet your goals and will walk you through all necessary legal and logistical steps to create it.
The Dennison Law Firm, P.C. in Greenville serves clients throughout Upstate South Carolina, including Easley, Pickens, Laurens, Greenwood, Spartanburg and Anderson counties. To take advantage of a free, initial 30-minute consultation with an experienced trusts and estates lawyer, please call 864-214-2463 or contact me online.