Trust Lawyer Shreveport, LA

Trust Lawyer Shreveport, LA

If you plan to transfer any of your assets to your children – either while you are living or after you have passed away – schedule a consultation with an experienced Shreveport, LA trust lawyer at Theus Law Offices. Once our knowledgeable legal team has evaluated your wishes, priorities, assets, debts, and property, we will provide you with objective feedback concerning your estate planning options. Our firm has extensive experience with asset transfer from parent to child(ren) in ways that preserve the value of the assets in question, reflect intelligent tax strategy, and reflect the wishes of the parent to the letter of the arrangement.

One of the estate planning strategies that the trusted legal team at Theus Law Offices will consider when evaluating your estate planning needs is the process of creating a trust. Trusts can be constructed to transfer assets while you are still living or may alternatively be constructed to transfer assets after you have passed away. The kind(s) of trusts that may benefit you and your children will depend upon your financial situation, your needs, and your priorities.

How Creating a Trust Can Benefit Your Children

Estate plans are meant to serve largely as “living legal tools,” meaning that they may generally be updated, edited, or revoked for as long as you live. Some trusts are irrevocable, while others are not. In either event, our Shreveport, LA trust lawyer team will be able to advise you concerning how each kind of trust functions, what potential benefits it brings to the table, and its potential drawbacks. Some of the reasons why setting up trusts (as opposed to simply transferring assets via a will) are such an attractive option is that certain trusts help to minimize tax burdens, help to preserve the value of certain assets, and help heirs to largely forego the probate process… at least concerning the assets governed by the trust. Assets not governed by a trust – and instead gifted through a will – may be subject to certain tax liability, sale for the benefit of creditors, and other hassles connected with the probate process.

Why You Should Start a Trust

You Have Real Assets

If you have a net worth that is at least $100,000, you should consider creating a trust. Your trust lawyer in Shreveport, LA, can help you build one if you have extensive real estate holdings or other assets. For example, if you have a significant stock and bond portfolio, valuable artwork or antiques, it is better to put them in a trust.

You Want Your Wishes Upheld

When you hire a trust lawyer in Shreveport, LA, to build your trust, you can be sure that your assets will be distributed according to your wishes, not the state or a judge’s decision. You can take every asset you own and assign it to a different person if you want.

You can even determine when your beneficiaries will receive their distributions. For example, if your children are too young or have difficulty effectively managing their money, you can set up regular fund disbursements rather than a lump-sum disbursement. You can also have the administrator of your trust, e.g., the Theus Law Offices, use these distributions to pay rent, healthcare or insurance, food, and other necessities rather than giving it to the person directly. You can even designate that the funds be used for higher education expenses.

You Want Your Distributions To Be Safe From Lawsuits

Unlike wills, which have to be validated by a probate judge, a trust does not have to be proven valid. Therefore, however, you and your trust lawyer in Shreveport, LA set up your trust is how it will be distributed. Anyone who is unhappy with their portion of your estate can sue, but a trust is typically resistant to legal action. However, there are two conditions in which a trust can be contested: when it was written under duress or if you were mentally incapacitated when it was created. As long as you understood the benefits, responsibilities, and risks of setting up the trust, it should be found valid in court.

You Want To Reduce Estate Taxes

If you use a standard will, your estate must go through the probate process to transfer to your beneficiaries. A trust transfers it while you are still alive. Therefore, your heirs don’t have to pay estate or death taxes. Trust assets are not subject to these taxes. Your beneficiaries may be subject to gift taxes based on the amount you give them each year, but a reputable trust lawyer in Shreveport, LA, such as those found at Theus Law Offices, can help you reduce the taxes your loved ones pay overall.

How Can a Trust Lawyer Help You?

There can be some contemplating when it comes to hiring a trust lawyer. However, the cost that is required for a trust lawyer could help you plan for the future and ensure that everything is taken care of with your estate. 

A trust lawyer in Shreveport, LA can give you legal help and guidance on how to name your trustee, or if you choose to have your trustee your lawyer. If you have a large estate with multiple complexities having a trust lawyer could become very beneficial and will confirm that your trustee is an impartial third party.

A trust lawyer will be able to assist you with creating or even reviewing a trust that you already have in place. Here are some reasons why you may consider creating a trust:

  • You don’t want your family to go through probate
  • You are attempting to lower your estate taxes
  • You would like to dictate when your beneficiaries will receive their inheritance

A trust lawyer will also be able to offer relevant legal assistance to your trustee, which could ensure that your trustee understands the processes and legal intricacies involved with a trust. A skilled lawyer will know how to navigate complicated legal documents and assure the validity of the documents.

Trusts are very useful in the instance that you want to leave your possessions to any loved ones. Consulting with a trust lawyer in Shreveport, LA at Theus Law Offices can help you get a better idea of how to begin planning for the future and setting up a trust today. Working with a trust lawyer will help you clarify your needs and wants through the necessary legal documents for your specific situation. 

Oftentimes, people can get confused about all the legal documents and how to ensure that they are done correctly so that their wishes are honored. Working with a trust lawyer in Shreveport, LA ensures that everything will be in order and accounted for. A trust lawyer will be able to give you the confidence that what you decide for the future will be truly put in a place. Even if a dispute were to arise, your trust will be able to hold up in court to ensure that what you decided is what happens.

A trust lawyer has the skills and knowledge about trusts and the documents that need to be filed in order for you to have your wishes carried through. A trust lawyer will be able to assist you with understanding the different types of trusts and other documents like credit shelter trust, charitable remainder trusts, generation-skipping trusts, and many others that should be considered. 

A lawyer will listen to your needs and goals and will know the appropriate route to take so that those goals can be met so that you can rest easy. If you believe that a trust is in your best interest then at the very least that you can do today is consult with a trust lawyer.

You have nothing to lose, but only to gain. Schedule a consultation with a trust lawyer at Theus Law Offices today.

Legal Assistance Is Available

If you have not yet scheduled a risk-free estate planning consultation with the trusted Louisiana legal team at Theus Law Offices, please do so now. None of us knows how much time we will be granted before our estate plans to become an urgent business for our loved ones and creditors. 

By taking a proactive approach to the estate planning process, you will better ensure that your assets are transferred exactly as you intend them to be and that your beneficiaries are spared as much stress and trouble as is possible concerning your estate in the wake of your death. Considering a time during which you will no longer be around to care for your loved ones can be undeniably challenging. However, it is important to speak with an experienced Shreveport, LA trust lawyer sooner rather than later for these reasons and more; we look forward to meeting with you.