One of the things that most people need but don’t do is estate planning. According to AARP, 60% of Americans don’t have any estate plan in place. The younger generations are less likely to have an estate plan, leaving them vulnerable.

Events arise that no one expects, and the lack of an effective plan makes things worse. Your surviving relatives and friends don’t know where to begin. Disputes arise about who is entitled to what, which could result in lengthy court battles.

A trust is a legal entity that manages and holds the assets on behalf of the beneficiaries. The beneficiaries receive the benefits from the asset, such as income. The person who is transferring their assets is known as the grantor. The grantor establishes the trust and appoints a trustee to ensure their instructions and that the assets’ distribution follows the terms of the trust.

A Trusts are commonly used in estate planning and offer numerous benefits, including.

• Protection and asset management: A trust lets the grantor control their assets while they are alive and specify how they want them managed after their death. Trusts can protect beneficiaries and their assets, especially those who lack financial experience, minors, and those with special needs.
• Avoids probate: The assets held in a trust avoid probate, a legal process for administering an estate after someone’s death. Probate can be expensive, time-consuming, and open to public scrutiny. A trust lets the grantor transfer their assets to the beneficiaries and maintain privacy.
• Reduces taxes: Estate, income, and other taxes can significantly impact the value of estates. Certain trusts, such as charitable and irrevocable trusts, decrease the tax burden and make it easier to pass on assets to the beneficiaries.
• Special instructions: A trusts lets the grantor give detailed instructions on the distribution of their assets. It can outline who receives what and the quantities, or it can set specific milestones that must be met to obtain the assets. The increased flexibility and control are preferable for supporting charitable causes and loved ones.

Estate planning is complex, and getting a trust attorney’s knowledge, experience, and guidance in Seattle is critical. At Dickson Frohlich Phillips Burgess, you work with skilled Seattle trust attorneys with decades of experience. We have worked on complex estates and know how to create an estate plan that honors your wishes and offers extra protection for family members. Contact us now to speak with a skilled trust attorney about your situation and what options make the most sense.

The Role of a Seattle Trust Attorney

A Seattle estate planning attorney is a legal professional in estate planning who will guide you through setting up and maintaining an estate. A trust is a tool that allows your surviving family members or those you designate to avoid probate and receive assets after you pass away.

Most trusts are established by individuals who have big estates and are seeking to reduce their tax burden. Trusts allow for the orderly transfer of assets with privacy and are popular among the wealthy, affluent, and celebrities.

The biggest drawback of trusts is that they are complex and could be costly to set up. A skilled attorney can help to guide you with their knowledge and experience in estate planning. Trusts are a tool that they use to help you to pass assets on to your beneficiaries and avoid taxes, publicity, and probate.

Trusts are often established to protect beneficiaries with special needs and children who require additional guidance and support. The discussions with your attorney will center on the best way to protect your legacy and control your wealth to match your wishes.

A trust attorney understands the different types of trusts, and we will help you establish your trust. You have various options for trusts; a skilled attorney will review your situation and give you custom advice.

What Types of Trusts Can a Trust Lawyer in Seattle Prepare?

Trusts Are So Flexible, And They Can Achieve Many Objectives

The different types of trusts a trust lawyer in Seattle can work on include the following:

• Inter vivos: These trusts, also called living trusts, are created and funded during the trustor’s life. They can also receive additional funding from the trustor’s estate after they pass away. There are revocable trusts (the trustor can change it) and irrevocable trusts (the trustor can’t change it after it’s created). After the trustor’s death, a revocable trust becomes irrevocable.
• Testamentary: These trusts are created while the person is alive but are funded after death.

When Can a Trust Be the Subject of A Lawsuit?

Avoiding Mistakes Can Reduce the Risk Of Costly Litigation

A trust can be the subject of legal claims for several reasons. The possibility of such litigation can be reduced if care is taken in creating the trust and choosing the right person to be the trustee. The trustee must be organized, capable, and honest. Often trustees turn to our Seattle trust attorney at Dickson Frohlich Phillips Burgess to make sure what they’re doing is legal and to prevent possible lawsuits.

• A beneficiary, or possible beneficiary, could file a lawsuit to get what they believe is their rightful inheritance.
• The trustee could file a lawsuit to obtain property that belongs to the trust or to have the court rule on whether their acts are proper.
• The validity of the will could be challenged by those claiming the trustor lacked the mental capacity to create one.

Much of the legal action is focused on the trustee by beneficiaries claiming they’re incompetent or are abusing their position for personal gain. Problems that could lead to a beneficiary’s starting trust litigation include:

• The trustee refuses to provide a copy of the trust.
• The trustee won’t respond to financial information requests or fails to provide financial information.
• The trustee, after administering the trust for a year or more, refuses to account for their financial handling of the assets or promises to provide an account but doesn’t do so.
• A beneficiary learns a trustee is taking trust assets they’re not entitled to or using them to benefit themselves, family, or friends.

Lawsuits against a trustee can have many goals, including to:

• Get a copy of the trust
• Obtain financial information
• Have the court instruct the trustee to provide an account of the trust’s assets
• Reclaim property the trustee is using or benefiting from that belongs to the trust
• Suspend the trustee’s powers
• Remove the trustee and appoint a temporary or successor trustee
• Order the trustee to repay the trust for mishandled assets.

Dickson Frohlich Phillips Burgess prepares trust documents and represents parties involved in trust litigation. We know what gets trusts and trust administration into legal trouble and work hard to prevent it.

Why Choose Us?

Estate planning is complex, and you want to work with attorneys skilled in handling all aspects. The lawyers at Dickson Frohlich Phillips Burgess have decades of experience working with some of the most complex estates. We will create an estate plan that respects your wishes and protects your loved ones after you pass away.

A trust attorney works as a fiduciary and handles all aspects of the administration of the trust:

• We notify the beneficiaries, government entities, and the public of the grantor’s death. These include the VA, life insurance companies, mortgage providers, banks, health insurance carriers, Social Security, and potential debtors.
• Your attorney can manage the trust, including reconciling all outstanding bills/debts, filing taxes, reporting losses/gains, and assessing the value of all assets.
• The trustee works to distribute all assets per your wishes.
• A skilled attorney ensures your trust follows all federal and state laws.
• Your attorney will represent you and the trust if there are any contests to the trust or its legitimacy.

Estate planning is complex, and you need a skilled attorney to give you practical and objective advice. The attorneys at Dickson Frohlich Phillips Burgess will review your situation and help you to establish an effective estate plan that follows your wishes. Trusts are one of the tools we use to ensure that everything goes according to the plan with the least challenges.

Your attorney works with you after the trust is established and helps with the administration. We will ensure that your trust gives you complete legal protection so you have peace of mind. We simplify estate planning and help you create an effective strategy for protecting your wealth and passing your assets on to the beneficiaries.

Dickson Frohlich Phillips Burgess – Seattle Office

2101 4th Ave #700
Seattle, WA 98121

P: (206) 621-1110