Establishing Trusts As Part Of An Estate Plan
Are you and your family prepared for the future? If something were to happen to you, do you know what will happen to your estate? I am Memphis-based attorney Mike Parham, and I can help answer these questions and more as part of my estate planning practice at Parham Estate Law.
Creating Trusts: Exploring Your Options
A trust is a useful tool for ensuring that your estate passes onto your intended heirs in a fiscally responsible fashion. A trustee, named by you, will be responsible for distributing your assets, avoiding the often lengthy probate process.
There are many different types of trusts designed to fit a wide variety of situations. A trust may be made either revocable or irrevocable, depending on your desires and goals. When a trust is administered, the process is a private matter, unlike the probate process which is public.
There are significant differences between a trust and a will. Both are often established as part of a comprehensive estate plan in order to help parties clearly establish their wishes. When you meet with me, I will begin by listening to what it is you hope to achieve. From there, we can explore your options and begin to craft a plan that is tailored to your unique situation. I believe that it is never too early to begin thinking about the future and I am here to help guide you through the estate planning process.
Contact A Lawyer To Learn More About How A Trust Can Benefit Your Family
To learn more about revocable trusts and irrevocable trusts, as well as other important estate planning tools, talk with me. To schedule an initial consultation at my office in Tennessee, please call 901-617-1948 or contact me online.