Meurer & Potter Law Office, Denver, Colorado
What is a trust ? This is a question that our attorneys at the Meurer & Potter Law Office are often asked. In simple terms, a trust is a fiduciary relationship where one party, the trustor, gives another party, the trustee, the right to hold and access estate assets in order to benefit a third party, the beneficiary. There are many different types, such as:
- Revocable Living Trust
- Irrevocable Trust
- ILIT – Irrevocable Life Insurance Trust
- Charitable Remainder Trust
- Grantor Retained Annuity Trust
- IRA Stretch Trust
By using a trust, you typically have more control over your legacy, including when, how and to whom wealth is distributed. It can protect your lifetime of hard work from beneficiaries lacking money management skills. And most importantly, it allows your assets to be passed on faster than a will (which will be probated) while keeping your private business out of the courts and off the public record.
If you need assistance with trusts, our attorneys at the Meurer & Potter Law Office are here to help.
Call or contact our offices today to schedule your free consultation: 303-991-3544