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Metz, Bailey & McLoughlin, LLP provides
customized estate planning, probate,
and business law services to clients
throughout Central Ohio

Attorneys For Today,
Counselors For Life

Metz . Bailey . McLoughlin

CALL FOR AN ATTORNEY

    614-423-4619

Attorneys For Today,
Counselors For Life

Attorneys For Today,
Counselors For Life

Metz, Bailey & McLoughlin, LLP provides
customized estate planning and
business law services to clients
throughout Ohio

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4 benefits of a trust

On Behalf of | Dec 4, 2023 | estate planning | 0 comments

Estate planning is a thoughtful and strategic process that ensures the distribution of your assets based on your wishes, minimizing potential conflicts and maximizing efficiency.

One powerful tool in this arsenal is a trust. While often associated with the affluent, trusts offer advantages for a range of individuals.

1. Control over asset distribution

A trust grants you unparalleled control over asset distribution after your passing. Through a trust, you can specify the conditions under which your beneficiaries receive their inheritance. This means you can determine how and when disbursement happens, whether tied to specific life events or staggered over time.

2. Privacy protection

Unlike a will, which becomes a public document upon probate, trusts offer a level of privacy that many find appealing. By avoiding probate court, your financial affairs remain confidential. This privacy not only protects your family’s sensitive information but also shields your estate from unnecessary scrutiny.

3. Providing for incapacity

Life is unpredictable, and unforeseen circumstances can leave individuals unable to manage their financial affairs. A trust can serve as a valuable tool in such situations. By appointing a successor trustee, you ensure a seamless transition of control in the event of your incapacity. This proactive measure prevents financial disruptions, enabling efficient handling of your affairs.

4. Protecting special needs beneficiaries

If you have beneficiaries with special needs, a trust can provide ongoing financial support without jeopardizing their eligibility for government assistance. By establishing a trust specifically tailored to their needs, you ensure they receive the necessary care and support without compromising their access to essential benefits.

For people who fall into the 34% of Americans with an estate plan, a trust may add another layer of peace of mind for your loved ones.

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