Trust Fund Lawyer in Wilmington, NC

Let Our Experienced Attorneys Guide You Through the Strategic Use of Trust Funds

As a leading trust fund law firm in Wilmington and the surrounding areas, Bespoke Estate Law helps clients establish revocable trusts, irrevocable trusts, charitable trusts, and more. We have helped hundreds of clients secure real estate, funds, shares, cars, and other assets in trust funds, and we would be happy to speak with you about your unique estate planning needs. Protect your assets from creditors, secure a brighter future for your heirs, and enjoy peace of mind by calling Bespoke Estate Law today.

How Does a Trust Work?

A trust fund serves as a vehicle in which you place property holdings, bank accounts, investment funds, stocks and bonds, life insurance policies, intellectual property, cash, and more. Trusts may protect assets from creditors, allow heirs to receive your assets without enduring a lengthy probate process, and maintain your estate's privacy, as trusts are not public record (a simple will becomes public record).

Trusts are common tools in the estate planning arsenal for good reason. If you have any questions about trusts or the benefits they provide, please contact us.

The Benefits of Trusts

A much-lauded benefit of trusts is their ability to simplify or entirely eliminate the probate process. In North Carolina, many assets noted in a will must pass through probate before they can be distributed to the beneficiary. This does not apply to jointly held assets, like a house co-owned by spouses or some 401(k)s, but it is not uncommon for children or other heirs of the deceased to wait a year or longer before they receive their inheritance. Assets held in a trust will bypass the probate process - this is one of the most common reasons for utilizing a revocable trust. While revocable trusts do not provide the same tax and creditor protections as an irrevocable trust, they do allow your assets to be passed quickly to beneficiaries without receiving the "green light" from the probate court.

Benefits of Irrevocable Trusts

In the case of an irrevocable trust, creditors and litigious persons may be blocked from accessing funds or assets held within. While courts may rule in the creditor's favor if the trust was established fraudulently or after the assumption of new debt, assets included in a trust prior to the accrual of debt will receive legal protection. Many individuals preemptively protect wealth in a trust, whether or not they anticipate legal trouble in the future. Irrevocable trusts also provide tax advantages. Technically, assets held in an irrevocable trust are no longer owned by the grantor, and these trusts are not included in the estate for estate tax purposes.

Bespoke Estate Law Helps With All Manner of Trusts

Our firm has helped hundreds of individuals and families protect their assets through the use of trusts. We are experienced in the following, among other forms of trusts:

• Revocable Living Trusts

• Irrevocable Trusts

• Special Needs Trusts

• Charitable Trusts

• Marital Trusts

• Dynasty Trusts

How We Help Our Clients

Our client engagements always start with a candid conversation. We would like to know what your goals and concerns are, and from there, we can use our deep knowledge of North Carolina's trust laws to create the ideal vessel for your assets and beneficiaries. We will consider your desire for control, current legal standards, the possibility of updates to estate laws in the future, estate tax laws, and more. We also help maintain the integrity of your trust. We will help you designate unambiguous beneficiaries, clearly write and execute the trust, and add multiple contingent trustees.

You will be able to review each draft of the trust with us. We are committed to creating a trust that you understand, and one that represents your wishes.

Contact Our Trust Lawyers in Wilmington for a Free Consultation

Bespoke Estate Law exists to help young professionals, families, and retired individuals alike make informed and strategic estate planning decisions. We serve Wilmington, Leland, Hampstead, Rocky Point, and the surrounding areas in both North Carolina and South Carolina. Contact us for a free consultation today.