At Lewis Johs, our Trusts and Estates and Elder Law Group is skilled in the preparation of various types of trust agreements. As we discuss each client’s particular situation and concerns we often recommend the use of trusts to address these concerns. An individual can set up “testamentary trusts” which are trusts built into a last will and testament that take effect upon that individual’s death. These trusts can address money left to minors, disabled individuals or even methods to reduce estate taxes.
While many trusts are testamentary in nature, other types of trust agreements may also be created while the client is still living. In some cases, our attorneys will advise a client to set up a ‘living trust”. These trusts can be either revocable or irrevocable, serve many purposes and go into effect while the client is still alive. Depending on a client’s concerns, a living trust may be an important part of their estate plan.