A Trust is another way to distribute your estate upon your passing. It is essentially a “virtual person” that holds your assets. Those assets are deeded to the Trust, which then distributes them to heirs and beneficiaries according to your prescribed instructions. The Trust becomes the legal “owner” of the assets upon your death, and it is administered by a trustee, the person you name to carry out your instructions. You are the trustmaker, and the recipients of the assets from the trustee are named the beneficiaries.

Whether you decide between a Will or a Trust depends upon your needs and goals. Our goal is to analyze those needs, then prepare your documents and see that they are properly executed. We are here to answer any and all questions you may have during the process. Please click here to read more about preparing a Will.

A Living Trust is a Trust that can be accessed and administered to beneficiaries prior to the death of the trustmaker. However, many people use a Trust in the same way as a Will in that death is a contingency prior to the distribution of assets. Essentially, a Trust is a contract between the trustmaker, trustee, and beneficiary(ies).

As stated above, it’s difficult to determine the proper method for you to relay assets following death. Both Wills and Trusts offer advantages and disadvantages. The best thing you can do for you and your beneficiary(ies) is meet with Ores Law’s professional lawyers in Loveland. Share with us your ideas for distributing assets following your death, and we’ll work with you to create a Will or Trust that will make those goals into a reality. We offer a free consultation; come visit us today.