Many people are surprised to learn that a trust may be the most efficient and effective way for them to achieve their estate planning goals. While trusts are often associated with wealthy families, trusts offer a wide variety of benefits that serve many people's best interests regardless of their net worth.
The experienced estate planning lawyers at the Costello Law Group, based in Towson, Maryland, are skilled at helping clients identify different types of trusts that can help them protect and distribute their assets conveniently and according to their wishes.
Tailoring Estate Plans To Your Assets And Your Family
A trust is essentially a relationship in which a trustee holds property on your behalf, for the benefit of a specific person, group of persons or an organization. The Costello Law Group regularly advises clients on, and helps them create, a variety of different trusts, including:
- Revocable trusts: Trusts that enable you to retain control of your assets while alive with the potential to avoid probate, passing your estate directly to your beneficiaries after your death.
- Irrevocable life insurance trusts: Trusts that serve as both the owner and beneficiary of a life insurance policy for you, in order to later provide for your beneficiaries.
- Special needs trusts: Trusts that provide for an individual with special needs without disrupting that person's eligibility for Medicaid, Social Security or other benefits.
- Charitable trusts: Trusts which hold your assets in order to support a charitable cause.
The Costello Law Group offers a free initial consultation, providing an opportunity for you to sit down with an experienced estate planning attorney to discuss the different trusts available and how they may fit into an estate plan that is customized to your needs.
Contact A Baltimore Revocable Trust Attorney
To schedule a free initial consultation with an experienced Towson trust attorney, contact the Costello Law Group at 410-832-8800 or toll-free at 877-418-0003.