Establishing a Trust Fund

A trust fund is a useful financial tool that can be used to serve many different purposes. Trusts that are created by a person to take effect when he or she dies are known as testamentary trusts. They can be used to provide income to beneficiaries, to provide incentives for good behavior, to secure a sum of money to be donated to a charity, to avoid high estate taxes, and more.

A trust fund lawyer can help you decide on and set up a trust fund that meets your needs. Setting up a trust fund is similar to creating a will. You will create a legal document for your trust fund that outlines the terms of the trust, specify the beneficiaries, and name a trustee. A trustee is an individual who is legally authorized to manage a trust's assets. A trustee can be a family member, close personal friend, or professional.

A trust is a powerful legal document that can help you pass on your assets to your spouse, children, other family, charities, or other beneficiaries. Because a trust can cover a significant portion of your assets, it is crucial to be sure that your trust meets all legal qualifications necessary to be considered valid. A trust fund attorney can help you draft your trust document, advise you on legal procedures involved in a trust fund, and help you ensure that your assets are protected and get passed on according to your wishes.

Contact Us

For sound legal advice and assistance with establishing a trust fund, please contact the experienced Austin trust fund attorneys of Slater, Kennon & Pugh LLP today at 512-338-1100.