A trust attorney specializes in estate planning and provides a range of services related to the creation, management, and administration of trusts. Trusts are legal arrangements that allow a person (the trustor) to transfer assets to another person or entity (the trustee) to be managed for the benefit of designated beneficiaries. Here’s what a trust attorney typically provides:

1. Trust Creation and Drafting

• Establishing Trusts: A trust attorney helps create various types of trusts, such as revocable living trusts, irrevocable trusts, special needs trusts, charitable trusts, and more.
• Drafting Trust Documents: The attorney drafts the trust agreement, which outlines how the trust will operate, who the beneficiaries are, who the trustee is, and any specific terms or conditions of the trust.

2. Estate Planning Advice

• Customized Planning: A trust attorney provides personalized advice based on the client’s specific financial situation, family dynamics, and estate planning goals.
• Tax Planning: They offer guidance on how to structure trusts to minimize estate taxes, gift taxes, and income taxes, ensuring that the trust serves the client’s financial and tax planning objectives.

3. Trust Administration

• Managing Trusts: If appointed as a trustee or working with trustees, a trust attorney can assist in managing the trust according to its terms, including making distributions to beneficiaries, filing tax returns, and managing trust assets.
• Compliance: The attorney ensures that the trust complies with all relevant laws and regulations, including state and federal tax laws.

4. Asset Protection

• Protecting Assets: Trust attorneys can create trusts designed to protect assets from creditors, lawsuits, or in the event of a divorce.
• Medicaid and Special Needs Planning: They can also set up trusts to help individuals qualify for Medicaid or protect assets for beneficiaries with special needs without disqualifying them from government benefits.

5. Updating and Modifying Trusts

• Amending Trusts: Trust attorneys can assist in amending or modifying trusts to reflect changes in the client’s life circumstances, such as marriage, divorce, the birth of a child, or changes in financial status.
• Revocation: For revocable trusts, the attorney can help clients revoke or terminate the trust if their estate planning goals change.

6. Trust Litigation and Dispute Resolution

• Handling Disputes: If there are disputes among beneficiaries or between beneficiaries and trustees, a trust attorney can represent parties in trust litigation or work to resolve disputes through mediation or negotiation.
• Defending Trustees: Attorneys can defend trustees against claims of mismanagement or breach of fiduciary duty.

7. Trustee Guidance and Support

• Fiduciary Responsibilities: Trust attorneys advise trustees on their fiduciary duties and responsibilities, helping them navigate the legal complexities of trust administration.
• Record Keeping: They assist in maintaining proper records, preparing accountings, and ensuring transparent communication with beneficiaries.

8. Coordination with Other Professionals

• Collaboration: A trust attorney often collaborates with financial advisors, accountants, and other professionals to ensure comprehensive estate planning and trust management.
• Integration: They help integrate the trust with other estate planning tools, such as wills, powers of attorney, and healthcare directives.

9. Education and Clarity

• Explaining Legal Concepts: Trust attorneys educate clients about the different types of trusts and legal concepts to help them make informed decisions.
• Simplifying Complexity: They simplify the legal process, making it easier for clients to understand how trusts work and the benefits they provide.