Develop A Trust With An Experienced Attorney
Choose A Top Oakland County Trusts Lawyer
A trust is a legal device that allows an individual, called the trustee,
to hold property for the beneficiaries of a grantor. Trusts are created
by grantors, who are able to include a variety of provisions in their trusts.
estate planning tools offer a variety of benefits, including allowing the grantor to create
terms for the trust. As long as it does not break the law, you can include
whatever type of provision you would like in a trust. Our Oakland County
estate planning attorney has more than 20 years of experience and is prepared
to assist you in selecting the best type of trust for your needs today.
Get In Touch With Our Firm Today By Calling (248) 919-8029
Types of Trusts
The two main types of trusts are
revocable trusts and
Revocable trusts can be altered or terminated at any time by the grantor.
If the grantor creates an irrevocable trust, he or she is unable to change
or terminate the trust before the time specified in the document. There
are a variety of specific types of trusts, including:
Grantor-Retained (Irrevocable) Trusts
If you are interested in saving on estate tax, we can help you create this
type of irrevocable trust. They are generally useful for reducing the
size of your estate and providing inheritance for your beneficiaries.
There are three types of grantor-retained trusts:
Grantor-retained annuity trusts: trusts that pay you a fixed amount on a regular schedule
Grantor-retained uni trusts: trusts that pay you a specified percentage of trust, which can vary from
year to year
Grantor-retained income trusts: trusts that allow you to use the property you put in the trust for a
certain period of time before being passed to beneficiaries
Special Needs Trusts
An individual with disabilities may lose government benefits if he or she
receives a large amount of money that disqualifies him or her from Supplemental
Security Income (SSI) and Medicaid. A special needs trust, or supplemental
trust, allows an individual with disabilities to receive financial support
while remaining eligible for benefits.
Expertise Where & When You Need It
At The Law Offices of Stuart Lee Sherman, PC, we are problem solvers. We
assess the problem and then take the time to explain your legal options.
After we have determined the best course of action, we aggressively pursue
the most favorable outcome for your situation. Clients are our first priority,
and we pride ourselves on providing them with the attention they deserve.
With a bachelor's degree in accounting, his Juris Doctorate, and an
LL.M. in taxation, Attorney Stuart Lee Sherman understands both the legal
and economic importance of creating a trust.
Due to his legal expertise, Attorney Stuart Lee Sherman has been selected
for inclusion in the
Michigan Super Lawyers® Edition of 2006, an honor bestowed on less than 5% of attorneys in the
state. Take advantage of
free case evaluation to learn more about your legal matters. For information about our client-centered services,
contact us today!
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