Irrevocable Trust Lawyers In Macon, Georgia
Trusts are one of the most common estate planning tools used to pass assets to beneficiaries after a person’s death. There are two types of trusts: revocable and irrevocable. Revocable trusts can be amended or revoked at any time by the individual who created the trust. In contrast, an irrevocable trust cannot be altered or revoked after it has been established. Because of this, an irrevocable trust must be carefully drafted and must clearly define the beneficiaries.
Jen Haskins Law, LLC, has the experience you need to create a customized trust solution for your family. Contact us today at 478-200-2232 or contact us online to schedule your free initial consultation.
Irrevocable Trusts For Minors
An irrevocable trust can be an excellent tool to provide financial security for a minor child. A trustee can be designated to manage the assets and distribute them to the child once he or she reaches the legal age of majority. The trustee can also be given the power to distribute assets to the child in the event that the child becomes incapacitated.
In addition, an irrevocable trust can be used to protect the assets from being taken by the child’s other parent in the event of a divorce or breakup. This is because a trust is separate from the assets of the child’s parents and the custodial parent would not have access to the trust assets.
Irrevocable Trusts For Adults
An irrevocable trust can also be an effective tool to protect someone who is mentally or physically incapable of managing his or her own finances. This can include an individual who is suffering from a debilitating illness or someone who has become incapacitated due to an accident or injury. The trustee can be given the power to distribute assets to the beneficiary in the event that the beneficiary becomes incapacitated.
In addition, an irrevocable trust can be established to protect the assets from being taken by the beneficiary’s other parent in the event of a divorce or breakup. This is because a trust is separate from the assets of the beneficiary’s parents and the custodial parent would not have access to the trust assets.
Contact Our Macon Irrevocable Trust Attorneys
Ensure your assets are safeguarded for future generations with Jen Haskins Law, LLC, your trusted Macon irrevocable trust lawyer. Let us guide you through the complexities. Contact us now!