You have plans to set up a trust for one or more loved ones. The decision now is how to go about establishing that trust. Choosing to seek help from one of the trust lawyers near Cicero is a good idea. During that initial meeting, be prepared for the lawyer to ask the following questions.
The first has to do with who you wish to provide security for by means of the trust. This is not out of curiosity; the legal counsel will have some ideas on what sort of trust is likely to work best, based on what the beneficiaries mean to you. Your response will help provide some direction in terms of what is discussed next.
Next, the lawyer will want to have some idea of what you want to accomplish with the trust. Is this a means of ensuring that a loved one has a source of monthly income after you pass away? Could it be the trust is set up for a specific purpose, such as covering the costs of higher education? The reason for the trust will also influence which sort of arrangement the lawyer suggests.
Finally, the lawyer is likely to ask how much you know about the different types of trusts and how they work. If you don’t know a great deal, don’t worry. The legal counsel will explain things like the difference between a revocable and irrevocable trust, how family corporations and trusts work, and any other aspect that’s relevant to what you have in mind.
The goal of all trust lawyers near Cicero is to ensure that everything is done in accordance with the client’s wishes. Provide all the information that you can, and it won’t take long to settle on a trust arrangement that accomplishes what you have in mind.
For more information, please contact Koch & Associates P.C. Attorneys at Law today.