Trusts
At Felt Law, we recognize the importance of securing your family's financial well-being for generations to come. Our Trust Services are designed to provide you with personalized solutions that align with your values and goals. Whether you're considering a revocable living trust, irrevocable trust, or a special needs trust, our experienced team is here to guide you through the process. Trusts offer a powerful means to protect your assets, minimize tax implications, and ensure a seamless transition of wealth. Explore how Felt Law can help you establish a trust that not only safeguards your financial legacy but also reflects your family's unique story.
Frequently Asked Questions (FAQs)
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What is a trust, and why do I need one?
A trust is a legal arrangement that allows you to transfer assets to a trustee, who manages and distributes them according to your instructions. Trusts offer benefits such as probate avoidance, asset protection, and flexibility in wealth distribution.
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What type of trust is right for me?
The type of trust depends on your specific goals. A revocable living trust provides flexibility during your lifetime, while an irrevocable trust offers enhanced asset protection. Special needs trusts are designed to provide for individuals with disabilities without jeopardizing government assistance.
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Can I be the trustee of my own trust?
Yes, in a revocable living trust, you can serve as the initial trustee, retaining control over your assets. However, for irrevocable trusts, it's common to appoint an independent trustee to manage the trust for added protection and tax benefits.
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How does a trust help with estate planning?
Trusts are powerful estate planning tools. They can help minimize estate taxes, avoid probate, and provide for a smooth transfer of assets to beneficiaries. Trusts also offer privacy as they are not subject to public record, unlike wills.
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What is the process of setting up a trust with Felt Law?
The process begins with a detailed consultation to understand your financial goals and family dynamics. We work closely with you to determine the type of trust that best suits your needs. Our experienced team then guides you through the legalities, ensuring your trust is established with precision and clarity.
Tailoring Trusts to Your Family
Felt Law recognizes that every family is unique, and our approach to trusts is centered on tailoring solutions to fit your specific needs. We take the time to understand your goals and values, ensuring that the trust we establish aligns with your vision for the future. Whether you're focused on asset protection, minimizing tax implications, or providing for loved ones with special needs, our team is here to craft a trust that reflects your family's legacy.
Accomplished attorney with strong background in Wills, Trust and Probate Administration. Civil experience includes Wills, Trusts, and Probate Administration. Licensed in Washington.
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Redmond Location:
9840 Willows Road NE, Suite 200
Redmond, WA 98052
Spokane Location:
1312 N. Monroe St., Suite 132
Spokane, WA 99201
509-795-0213