Your Guide to Testamentary Trusts
There are few things that can be comforting to a person is facing down their nearly certain death. It is a topic that the vast majority of us would prefer not to spend any time at all thinking about, and yet we know with certainty that we will come to this point in our own lives regardless. Therefore, it is best to try to get in touch with a probate lawyer Custer to discuss options such as setting up a testamentary trust long before you find yourself literally working out your end of life care options. As grim as some of this may sound, you need to take the time to do it in order to have true peace of mind at the end.
What Is A Testamentary Trust?
Probate attorneys Ferndale hear people asking them what a testamentary trust is all the time. They have become so accustomed to hearing it that they surely have some prepared answers ready to go for anyone who wants to know. Essentially, what Dean Prather ESQ PLLC, a trained probate attorney Bellingham would tell you is that a testamentary trust is a trust that one sets up as a part of their last will and testament. The purpose of the trust is to establish a trustee to handle the assets of the diseased once they have left this Earth. Getting things set up ahead of time like this means that the person who is facing their own death can know that at least the trustee will manage their assets in the way that they would like them to be managed.
Putting A Responsible Person In Charge
A primary purpose for setting up a testamentary trust is to put someone responsible in charge of the funds and assets that need to be distributed after death. The trustee needs to literally live up to their title as they are entrusted with a great responsibility here. They need to be the one to say who gets what and in what quantity. It is not an easy task, and that is why anyone who sets up a testamentary trust should concern themselves with putting the most responsible people that they know in charge of these matters. They cannot afford to let someone who doesn’t know what they are doing or who has some other conflict of interest get into a responsible role in these circumstances. There is too much at risk, and no one wants that. Instead, this decision should be made with a clear mind and made well ahead of time. No one needs to be sitting in their hospital room wondering why they didn’t just decide to take things another route. It is all about stepping up and getting things straightened out now. A good probate attorney Ferndale can lend a helping hand with that, and they can even be helpful in offering some input as to who might be a good candidate to be the trustee in these circumstances.
Avoiding Unnecessary Conflict
One of the major things that probate lawyers Ferndale do for their clients each day is help them set up trusts that can avoid some drama and conflict that can arise as family members go to war with one another of assets left behind by the diseased. It is easy for these material possessions to become something that get in the way of healing and progress following the death of a loved one. People get so caught up in the drama of sorting out who will get which possessions that they forget that they are all family at the end of the day, and many of these battles are completely unnecessary. A strong probate attorney Ferndale can step into this potential thunderstorm of conflict and help families get things sorted out in a mature and legal manner. Get in touch with a probate attorney Bellingham for assistance on this today.