Establishing Trusts To Achieve Your Goals
When it comes to estate planning, trusts are a powerful tool. In the appropriate case, trusts can achieve many goals that a will cannot. At Buck C. Gibson, P.A., we know trusts. Our extensive experience and in-depth knowledge mean that we understand how to incorporate trusts into an estate plan that make sense for you and your family. Our law firm is available to develop trusts for people in Searcy, Arkansas, and throughout Central Arkansas.
Trusts are complex legal documents that can be tailored to accomplish a wide range of goals. The most common type of trust is the revocable trust. This is a trust that is established during your lifetime and can be modified at any time until your death, at which point it becomes irrevocable.
A trust can help you avoid probate and eliminate the possibility of will contests or other disputes over your estate. Trusts can also be used to disburse the value of your estate over time, allowing your heirs to easily manage their assets. A trust can also assist in the minimization of estate tax implications.
Taking Estate Planning To The Next Level
At our law firm, lawyer Buck Gibson assists clients with both revocable trusts and irrevocable trusts, such as:
- Special (or supplemental) needs trusts, which support a family member facing a disability or high medical need
- Charitable trusts, which allow you to donate while decreasing estate and gift taxes
- Spendthrift trusts, which protect a beneficiary’s assets until the time is right
- Generation-skipping (or dynasty) trusts, which reduce tax penalties for a grandchild’s inheritance
- Credit shelter trusts, which can shield a surviving spouse from suffering extra estate taxes
Among the trust options that exist, we are prepared to help you identify the most suitable choices for your situation. We can help you create a practical trust to manage your assets strategically.
When you turn to us for assistance, we will take great care to provide estate planning solutions that are customized to your needs. You will get an estate plan that is right for you.