Have you ever heard the term preventative law before? It’s a simple concept based around the idea that most people reach out to a lawyer only after they get into a bad situation. That doesn’t necessarily mean getting arrested. It simply means being negatively affected by laws and courts for unexpected and unnecessary reasons. This is where a Providence trust lawyer comes in.
Preventative law advocates for people seeking out legal advice and assistance in order to avoid problems down the road. A Providence trust lawyer is a great example. You work with a local lawyer who has experience with trust, wills, and other aspects of estate planning so that the law works for you and not against you and your heirs once your estate is divided.
If you suspect that a Providence trust lawyer could be an asset to your and your family, reaching out to one sooner rather than later is in your best interests. We have put together this guide including everything you want to know about a Providence trust lawyer so that you can be sure you have the help you need before you need it.
What Does a Providence Trust Lawyer Do?
There is a lot of confusion about the concept of trust. Without going into exhausting detail, setting up a trust is simply a way to pass assets from one person to another with fewer hassles, uncertainties, and tax penalties than some of the alternatives available. Setting up a trust will be ideal for some people and less ideal for others.
The first job of a Providence trust lawyer is to determine if setting up a trust is the right strategy for you, your assets, your plans, and your heirs. If so, they will do everything you need to get the trust set up and to get you all the information you need. If it is not the right approach to estate planning, a Providence trust lawyer will help you pursue other more effective options.
Is a Trust Right for Me?
To answer that question with confidence you will need to sit down with a Providence trust lawyer and dive into your estate and your wishes for after you are gone. However, there are some people and some circumstances that can benefit in distinct ways from setting up trust. If you meet any of these conditions, be sure to consult with a Providence, trust lawyer:
- You have an estate worth more than $5 million
- You are concerned about a family member with a disability or special needs
- You are worried about how your heirs will use the assets you leave to them
- You carry a lot of life insurance
- You plan to leave a substantial sum to charity
- You have children and have reason to believe your spouse may remarry after you are deceased
- You want to make sure your assets are protected after you died and used only to support the interests of your family and heirs
- You want most of your assets to go to your grandchildren
This list is far from complete. And even people who meet these condition may not be best served by trusts. Explore the option in depth by working with a Providence trust lawyer.
What to Look for in a Providence Trust Lawyer
You rely on a Providence trust lawyer to honor your dying wishes and make sure that the whole of your estate is managed according to your exact specifications. Considering that both your legacy and the long-term wellbeing of your heirs is at stake, you will want to choose your Providence trust lawyer carefully. Look for these qualities:
- Communication Skills – Trusts and other matters related to your estate can be complicated and confusing. You will want to work with a Providence trust lawyer who can help you understand everything.
- Patience – Understanding exactly what your estate includes and how you want to distribute it takes time and a lot of focus. Only work with an attorney who will put in the hours it takes to perfectly understand your intentions.
- Attention to Detail – The last thing you want is for a minor mistake or oversight to derail your estate plans. When it comes to Providence trust lawyers, only an eagle-eyed attention to detail will do.
- Dedication – Your Providence trust lawyer will continue to work on your behalf even after you are gone. They should be dedicated to your wishes and committed to providing quality services even when you are not there to call the shots.
- Creativity – There are lots of ways to protect an estate and plan on passing it on. Trusts are one option to consider, but your Providence trust lawyer should be able to show you lots of other options as well.
If you are ready to have a conversation about your estate, your assets, and your heirs, contact The Law Office of Jay Bianco by calling 401-206-0098.