how to prepare for creating a trust

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

HOW TO PREPARE FOR CREATING A TRUST

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

WHAT IS A TRUST?

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

A trust is a type of legal tool.

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

A trust is created using a trust document.

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

The trust separates possession of property and ownership of

property.

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

SHOULD YOU CREATE A TRUST?

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

Trusts can provide you with many benefits, and trusts are one

of the most important legal tools in estate planning.

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

You will need to make smart choices regarding whether you should

create a trust or not.

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

An attorney can help you to decide whether a trust will work to

accomplish your desired plans and goals.

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

PREPARING TO CREATE A TRUST

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

If you are thinking about creating a trust, there are a few steps you

should take to prepare before you actually go forward with the creation of a trust document.

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

Some of these steps include the following:

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

DECIDE WHAT KIND OF TRUST YOU WANT

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

There are different kinds of trusts.

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

The first and most important step to take is to consider pros, cons, and purposes of each trust type so you

can assess which kind of trust actually makes sense for you to use.

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

LIST THE ASSETS YOU HOPE TO PUT IN THE TRUST

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

You need to list the property you are hoping to transfer into the trust.

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

It is not always possible for assets to be transferred to a trust without creating serious consequences.

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

DECIDE WHO TO NAME AS TRUSTEE

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

When you create a trust, you could serve as trustee under certain

circumstances (depending upon trust type).

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

You are either going to need to name a backup trustee (if you are the primary) or name a primary trustee to manage trust assets.

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

DECIDE WHO THE BENEFICIARIES WILL BE

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

You also need to determine who you are going to name as the beneficiary

of the trust.

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

The beneficiary or beneficiaries are the people who the trust is created

to provide for.

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

The choice of beneficiary can sometimes dictate which kind of

trust is right for you.

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

For example, when leaving money to someone with a disability, you may need to use a special needs

trust.

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

CONTACT AN ATTORNEY TO CREATE YOUR TRUST

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

The best way to prepare for trust creation is to get an experienced

attorney to help you prepare.

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

Your lawyer can take care of everything associated with trust

creation for you.

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

LEARN MORE ABOUT CREATING A TRUST, NEW YORK

196 North Main St., PO Box 417, Naples NY 14512

1163 Pittsford-Victor Road, Suite 120, Pittsford 14534-3817

Click to visit mrobinsonlaw.com. Or call us at (585) 374-5210 to

schedule a consultation.