Trust Attorneys
Trust agreements are excellent estate planning documents that offer additional flexibility in providing for you and your loved ones in the event of death or incapacitation. Wills can be sufficient to accomplish estate planning goals for some individuals and families. However, with one or more carefully drafted trust agreements, the Nebraska trust attorneys of Berkshire & Burmeister can help you protect the legacy you have created over a lifetime for future generations.
Choosing the Best Trust for Your Needs and Goals
There are many different types of trust agreements available for use by individuals and families. Some trust agreements are designed for individuals, while other trusts allow families to join together to protect family-owned businesses or family-owned property. While trusts are commonly used in estate planning, trusts can also be useful during a person’s lifetime for asset protection and positioning property to be used for the benefit of beneficiaries for many years.
Our highly skilled and experienced Nebraska trust lawyers can help you choose the trust agreement that provides the best features to accomplish your goals and meet your needs. Some of the advantages of trusts that you may want to discuss with our legal team include:
- Asset Protection — Trusts are legal entities; Trustees hold title to property separate from the grantor or beneficiaries. Irrevocable trusts can provide a high level of asset protection from creditors and other parties.
- Avoiding Probate — With a trust, property can pass directly to beneficiaries without going through the probate process.
- Reducing Tax Liability — Some trusts are designed to reduce the taxable value of an estate. A trust can also help manage other tax liabilities for grantors and beneficiaries.
- Special Needs Trust — A Special Needs Trust provides income and resources for individuals with special needs without jeopardizing the individual’s eligibility for government benefits.
- Manage Money for Minors — A trust agreement can manage money for minor beneficiaries while providing for the care, upkeep, and education of minors.
- Conduct Business and Grow Assets — Families can use trusts to hold business assets to ensure that family-owned businesses remain privately-owned regardless of how the family structure changes.
The above advantages of trusts are just a few of the benefits of using trust agreements. Learn more about trusts and how using trusts can benefit you and your family from one of our trust attorneys for Nebraska and western Iowa.
Trust Administration Services
The trust attorneys of Berkshire & Burmeister also represent trustees and fiduciaries as they manage and administer the trust assets. Questions and issues can arise as a trustee carries out his or her duties and responsibilities under the terms of the trust agreement. Trustees often need legal advice and guidance when selling or purchasing property or making prudent decisions for the beneficiaries. Our Nebraska trust lawyers have extensive experience assisting trustees with all aspects of their duties and responsibilities.
We also represent trust beneficiaries who have questions or concerns about the administration of trust assets. Disputes and allegations of wrongdoing by the trustee can create serious legal questions regarding the future administration of the trust. If you are a beneficiary of a trust and you are concerned that the trustee is not representing your best interests, contact our office to discuss your options for holding the trustee accountable.
Talk with an Experienced Trust Attorney in Nebraska and Iowa
If you have questions about trusts or you want to learn more about how trusts can be used in estate planning, contact the Law Firm of Berkshire & Burmeister by calling 402-827-7000.