Chayet & Danzo, LLC Chayet & Danzo, LLC www.Coloradoelderlaw.com
Call for a Free Initial Consultation
Direct303-872-5980
Toll-Free 1-888-472-1088
Email Us
Compassion, talent and dedication: guiding colorado families and Their Trusted Advisors During Times of Need

The many ways in which a trust can help someone

Utilizing trusts in your estate plan can be a very helpful way to save money and protect yourself (and your loved ones and beneficiaries) from estate taxes. Even though trusts are just a tool to help people building their estate plans, many people may shy away from trusts simply because they assume that a trust is too complex to get involved with.

However, we are here to tell you otherwise. Though there can be some stumbling blocks in the trust process, a trust really can be a vital part of anyone's estate plan.

When you establish a trust, all you are really doing as the "trustor" (the person whose estate is in question) is transferring ownership of something to an intermediary (known as the "trustee") so that it can be managed until the beneficiary of that item can assume control of it. The intermediary manages the asset (or assets) until the timing is right, and then the beneficiary gets to enjoy that asset.

There are many different types of trusts that can utilized. A living trust is done while the trustor is still alive. Irrevocable trusts work along the same lines, though the transfer of assets happens before death (and, thus, the trust is "irrevocable"). There are also charitable trusts that can be established by the trustor, and successor trusts which can be established in case the trustor becomes disabled.

Any of these trusts can be used by the trustor to adequately manage his or her estate, and these trusts can also be used to avoid probate or taxes.

No Comments

Leave a comment
Comment Information

Watch Our Firm Video

We are the premier Elder Law firm in the Colorado region. We set ourselves apart from other law firms in the area with our talent, dedication, compassion and ability of our attorneys to handle any case in Elder Law. We serve Colorado families with experience and dignity in your time of need.

View More Videos

Denver Office
650 S.Cherry St., Suite 710
Denver, CO 80246

Phone: 303-872-5980
Fax: 303-355-8501
Denver Law Office Map

Edwards Office
105 Edwards Village Blvd.
#D-201
Edwards, CO 81632

Toll Free: 888-472-1088
Fax: 303-355-8501
Edwards Law Office Map

Aspen Office
600 East Hopkins Avenue
Suite 301
Aspen, CO 81611

Toll Free: 888-472-1088
Fax: 303-355-8501
Aspen Law Office Map

  • Rated by Super Lawyers Macro Chayet SuperLawyers.com
  • Rated by Super Lawyers Frank J. Danzo, III  SuperLawyers.com
  • Member National Academy of Elder Law Attorneys, Inc. TM
  • Avvo Rating 10.0 Superb Top Attorney Elder Law
  • 2015 Five Star Professional Wealth Manager Multi-Year Winner
  • Our new 2015 Medicaid Book: how to protect your Family's Assets from devastating nursing home costs
  • Proud Sponsor 2015-Denver Colorado Senior Law Day
  • Peer Review Rated For Ethical standards & Legal Ability TM Martindale Hubbell
  • Haystack