Practice Areas: overview

Trusts and Wills are both estate planning tools used to manage and distribute a person’s assets after death, but they function in different ways.

• A legal document that states how a person’s assets should be distributed after death.
   
• Takes effect only after death.
   
• Must go through probate (court-supervised process).
   
• Can name guardians for minor children.
   

• A legal arrangement where a trustee holds and manages assets for beneficiaries.
   
• Can be revocable or irrevocable.
   
• Often used to avoid probate and allow for more private, flexible, and continuous management of assets.
   
• Can take effect during life or after death.
   

A will directs asset distribution after death through probate, while a trust allows for more control and protection of assets, often avoiding court involvement. Many estate plans use both together.

Asset protection in a trust refers to using a trust structure to shield assets from creditors, lawsuits, or financial risks, while still allowing them to be used for the benefit of the trust’s beneficiaries.

• Legal Separation: Assets placed in certain types of trusts are no longer considered the personal property of the grantor or beneficiaries, making them harder for creditors to reach.
   
• Irrevocable Trusts: These are commonly used for asset protection because the grantor gives up control over the assets, placing them under the management of a trustee.
   
• Protection for Beneficiaries: Trusts can include "spendthrift provisions" that prevent beneficiaries from squandering assets or having them seized by their creditors.
   

Asset protection in a trust helps preserve wealth for future use and guards against unexpected financial threats.

A Special Needs Trust (SNT) is a legal arrangement designed to provide financial support to a person with a disability without affecting their eligibility for government assistance programs like Supplemental Security Income (SSI) or Medicaid.

• Protects Benefits Eligibility: The trust holds assets for the beneficiary’s benefit but doesn’t count as their personal assets, so they can still qualify for needs-based government aid.
   
• Covers Supplemental Needs: It pays for things government benefits don’t cover—like education, personal care, hobbies, travel, or special therapies.
   
• Managed by a Trustee: A designated trustee controls the trust funds and ensures they’re used appropriately for the beneficiary.
   

A Special Needs Trust helps improve a disabled person's quality of life without jeopardizing their access to essential public benefits.

A gun trust is a special type of legal trust designed to own and manage firearms, especially those regulated under the National Firearms Act (NFA)—like silencers, short-barreled rifles, and machine guns.

• Legal Compliance: Helps ensure firearms are transferred and possessed in compliance with federal and state laws.
   
• Multiple Users: Allows more than one person (trustees) to legally possess and use the firearms.
   
• Avoids Probate: Upon the death of the owner, NFA firearms can be passed to beneficiaries without going through probate.
   
• Privacy & Control: Offers a private and flexible way to manage gun ownership and inheritance.
   

A gun trust makes it easier and safer to legally own, share, and pass down certain firearms.

Trust administration is the process of managing and carrying out the terms of a trust after it has been created, especially after the grantor (creator of the trust) has died or become incapacitated.

• Trustee’s Role: The trustee is responsible for managing the trust assets, paying debts and taxes, and distributing assets to beneficiaries according to the trust's terms.
   
• Duties Involved: Includes asset valuation, recordkeeping, reporting, and acting in the best interest of the beneficiaries.
   
• Legal and Fiduciary Duty: Trustees must follow the law and the trust document, acting with honesty, loyalty, and care.
   

Trust administration ensures the trust is managed properly and the grantor’s wishes are fulfilled.

Probate is the legal process through which a deceased person’s will is validated, their debts are settled, and their assets are distributed to heirs or beneficiaries.

• Court-Supervised: Probate is overseen by a court to ensure everything is done legally and fairly.
   
• Validates the Will: Confirms the will is legitimate and appoints an executor to carry it out.
   
• Pays Debts & Taxes: The estate's debts and taxes must be paid before distributing assets.
   
• Distributes Assets: Once obligations are met, the remaining assets go to the heirs or beneficiaries.
   

Probate is the official process of wrapping up a person’s financial affairs after death.