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Sometimes, effective planning may require creating a trust (or multiple trusts) as part of your plan. A trust is a way to hold, manage, and protect your assets while you are alive and/or after your death.
Certain kinds of trusts can be effective tools for estate planning and/or tax planning, and other kinds of trusts are used as part of long-term care (LTC) and special needs planning.
Our attorneys know which types of trusts are best used for estate planning, special needs planning, tax planning, and/or as part of a long-term care plan. We help you choose the best kind of trust(s) for your situation and draft your documents to meet your needs and goals. NWLG prepares:
In addition to creating trusts, we also guide trustees (trust administrators) through trust administration. It is important to ensure that the assets held in the trust are being managed how the settlor (the creator of the trust) intended, and in a way that upholds the trustee’s duties to the beneficiaries of the trust. We assist trustees with the annual accountings of special needs trusts which are now required by Minnesota Law.
Contact Us today to discuss whether a trust is right for you.(See the right-hand sidebar for more information about Northwoods Law Group’s other practice areas.)