Anchorage Estate Planning and Trusts Lawyer
Trusts provide strategic and reliable methods of reorganizing wealth and property to meet a wide range of goals. Many clients use trusts as a major element of estate planning because they can allow beneficiaries and heirs access to your estate under guidelines that you set and without the financial burden of probate and certain taxes. Other clients use trusts to manage their own wealth to help them protect their options as they grow older and potentially require greater healthcare.
At the law office of Kenneth Kirk, Attorney in Anchorage, Alaska, we help individuals utilize a wide range of trusts to their financial and estate planning advantage. With 20 years of estate planning experience, we understand how to make trusts work for your health, wealth, family and future.
Putting Trusts to Work for You
Among the most common kinds of trusts our attorneys put to work for clients are:
- Living Trusts - Most commonly known as revocable living trusts, this is a tool that allows clients to move wealth and property into a trust so that their estate can be quickly and inexpensively turned over to their heirs when the need arises. Avoiding probate and some of the delays associated with it, revocable and irrevocable trusts are a key component for sound estate planning.
- Testamentary Trusts - Working in concert with a will, a testamentary trust can give you greater control over the distribution of wealth or property for your children and heirs. Usually this allows you to place property into a trust so that you are able to dictate the terms and conditions that must be met for your estate to be distributed.
- IRA Conduit Trusts - Used to allow you a financially sound method of transferring wealth in retirement accounts to avoid excessive penalties and taxes associated with early withdrawal. This trust may allow you to make sure that beneficiaries of your retirement accounts don't make irresponsible decisions in accessing the money.
- Special Needs Trusts - These trusts are part of Medicaid planning or planning for disabled heirs. Managing your assets now, and putting the power of trusts to work for you, can help you build a future in which you will have access to the affordable healthcare you need.
Trusts, in general, are a method for you to exert a greater degree of control on how your estate, wealth and property are distributed and managed following your death or if you are incapacitated. A trust becomes the manager of your property and follows the directives you set forward, whether it is to manage your own care in the future or to make sure your heirs have controlled access to their inheritance.
Understand the Options Available to You
Schedule a free initial consultation with our office to discuss the options available to you through the power of trusts. We will closely examine your needs and spend the time to understand fully what your goals are for your own future and the future of your heirs.
