There are many options when it comes to trusts, but creating one that is appropriate under your own personal circumstances is essential. From revocable trusts to irrevocable trusts, there are an array of choices people have. Depending on your situation, a spendthrift trust may be the ideal path forward. In Cincinnati, and all over the state of Ohio, these trusts have helped many people ensure that their assets are distributed according to their wishes.
If you are in the early stages of estate planning, you could have a wide range of questions. For example, you may be unsure of which option, a trust or a will, is right for you. However, it is vital to understand some of the key aspects of an estate plan. For example, if you have decided to move forward with a revocable living trust, you should be aware of the different roles that people have and the responsibilities that are involved.
When it comes to making decisions regarding your estate, you may have a number of options on the table. However, it is vital to closely assess each choice and figure out which one will work best for you, given your circumstances. For example, you may be trying to decide whether to move forward with a will or a trust. Or, you may be trying to figure out whether a revocable trust or an irrevocable trust is the way to go. In this post, revocable trusts will be covered.
When people create a trust, they typically hope that their trust will be helpful for those who are close to them, and that their assets will be split up among beneficiaries appropriately. At Buechner Haffer Meyers & Koenig Co., our law firm knows that this does not always happen in Cincinatti, and in cities across the state of Ohio. There are a number of reasons why trust disputes arise, such as disagreements with the way in which assets are distributed to beneficiaries or as a result of a trustee not understanding his or her duties. Regardless of the reason why a dispute comes up, working through the situation properly is paramount.