Thornhill, Ontario Trusts Lawyers Guiding You Through Your Options
Trusts may seem complicated and intimidating, but it doesn’t have to be. Whether you’re just starting down the path of estate planning or already invested in planning for your future, hiring a trusts lawyer in Thornhill can help you understand what your options are and how to put them into action. K&Y Law P.C. has been helping families work through their legal issues since its inception, so you can trust that we’ll have your best interests at heart as we guide you through this difficult process. Our trusts lawyers know exactly what to look out for when setting up your trust, whether it’s a special needs trust or even a business continuity trust – no matter what type of trust you need, our estate planning law firm in Thornhill can help you. Get in touch with our law firm today by calling 905-597-8529 at your earliest convenience.
What is a Trust?
A trust is a legal arrangement in which one person, the trustee, manages property on behalf of another person or group of people, known as the beneficiaries. A trust can be set up to last for a specified length of time or to continue in perpetuity and comes with a variety of purposes.
Trusts typically come into play when planning for your family’s future because it gives you more options than will allow for if you didn’t have them in place. Depending on your situation, trusts may help you ensure that your spouse and children are taken care of long after you’re gone; keep your business open and your family members employed, or ensure that money gets to the right people at the right times.
How Can a Trust Benefit Me?
A trust can be set up to help you, no matter what kind of situation you’re in: whether it’s planning for your future or protecting your loved ones after you’re gone, trusts offer many options that can help guide you through difficult situations.
Here are some specific ways trusts can benefit you:
- Asset Protection: One major benefit of setting up a trust is that it allows your assets to be protected from potential creditors or litigation.
- Efficient Planning: Setting up a trust doesn’t mean that you’ll lose control over how your assets are managed; instead, it means that you won’t be around to see them anymore and that responsibility will fall on someone else – this removes most stress from the situation because it ensures that someone with experience will be making decisions about how they’re distributed and used.
- Avoiding Probate: Sometimes people want to make sure their assets go where they want them to without having to go through probate court – this can be difficult to achieve if you don’t have the right legal documents in place. With a trust, your assets are distributed exactly as you would wish when you’re gone, so there is no worry about whether or not everything will go according to plan.
- Ease Tax Consequences: Finally, trusts provide more options for saving money on taxes than other legal arrangements do. If you’re trying to save as much money as possible for yourself and your family, setting up a trust is often the way to go.
Should I Hire a Trusts Lawyer?
A trusts lawyer in Thornhill can simplify the process and make it easier for you to understand your options. For most people, the thought of setting up a trust is daunting. However, with proper guidance, you can set one up without having to worry about making any mistakes.
We can talk you through all of your options and listen to you so we know which options may be best for your estate plan. Get to know more about your options by reaching out to our law firm today.
Is Creating a Trust Right for Me?
Setting up a trust is beneficial to just about anyone. If you value your family and estate, creating a trust can provide you with the opportunity to protect your loved ones and the people you care about. The best thing you can do is consult with our estate planning law firm in Thornhill, Ontario today – we will listen to your concerns and help answer any questions or complications that may arise while protecting what matters most to you during this process. Call 905-597-8529 to get the legal help you need today.