What Should Be Included in a Trust Agreement?
The trust agreement is the document that creates the trust, and it should include all the information necessary to establish the trust and its purpose. The trust agreement should include:
- The name of the trustor and the trustee
- The date the trust was created
- The names and addresses of the beneficiaries
- A description of the trust property
- The purpose of the trust
- The terms and conditions of the trust
- The powers and duties of the trustee
- The distribution provisions of the trust
- The terms of the trust’s termination
With the large number of types of trusts and the many different purposes they can serve, it is important to have a clear understanding of your goals before you begin the process of setting up a trust. A trust lawyer can help you identify the right type of trust for your needs and can guide you through creating the trust agreement.
Tips for Choosing a Trust Lawyer
When choosing a trust lawyer, there are several tips that you should keep in mind to solidify your decision:
- Licensure. Make sure the trust lawyer you are considering is licensed to practice law in your state. Proper licensing is crucial because it means the lawyer you are working with is educated and qualified to provide legal advice in your state.
- Experience with trusts. It is essential to work with a lawyer who has experience drafting trust agreements, reviewing and approving accounting, and representing trusts in legal proceedings.
- Fees. You want to work with a lawyer who is upfront about their fees and who will not charge you for any additional services that may be required./li>
- Client referrals. A strong lawyer will be happy to provide you with references from past clients who can attest to the lawyer’s experience and professionalism.
Choosing the right trust lawyer is an important decision, and you should take your time to find a qualified and experienced lawyer in trust law. At McCunn Law, our attorneys have experience drafting a variety of trust agreements, including irrevocable trusts, charitable trusts, and special needs trusts. We can help you identify the right type of trust for your needs and create a trust agreement that meets all your requirements.
If you are considering creating a trust, please contact our office today to begin a consultation. We would be happy to answer any of your questions and to help you get started on the process. We look forward to working with you soon.