A trust is an entity created for the purpose of holding the property of another for the benefit of that person or another. The trustee is the person entrusted to manage the trust in accordance of the terms of the trust. Upon death, the assets of the trust are distributed directly to beneficiaries, bypassing the probate process.

Trusts can also serve other special purposes, such as providing for a family member with special needs, leaving money to charity, or avoiding estate taxes if you have substantial wealth. At the Watkins Law Firm, we are familiar with several different types of trusts to accomplish your estate planning goals.

Located in O'Fallon, Missouri, our law firm represents clients from all walks of life in the St. Charles County area, including communities of St. Charles, St. Peters, Wentzville, O'Fallon and surrounding cities.

Revocable Trusts

No matter what level of assets you own, we typically recommend a revocable living trust. The chief benefit of a living trust is the immediate continuity and ease of estate administration — your property transfers directly to your heirs, upon your death, without going through probate.

"Revocable" means that the trust can be altered (or terminated) while you are still living; you can add or subtract beneficiaries, or add or subtract assets as your family grows or your needs change.

Other Trusts

Attorney Mike Watkins has practiced in estate planning for over 30 years in Missouri. He is knowledgeable about all types of trusts, such as:

• Generation-skipping trusts to defer estate taxes
• Qualified trusts to confer tax advantages to beneficiaries of an IRA retirement plan
• Special needs trusts: This sets aside money for a disabled child without disqualifying him or her for Social Security, Medicare or other state benefits. It also can protect proceeds that the disabled person received from a personal injury settlement or other judgment.
• Charitable trusts to support a favorite cause after you are gone

A trust can disburse all assets upon your death, or ration them out over a number of years. It can also be created to put stipulations on inheritance, such as attaining a certain age. Our lawyer can help you designate a successor trustee and design the terms of the trust to align with your needs and desires.

For comprehensive estate planning or questions about a certain kind of trust, call us today or contact us online. We offer a FREE Consultation and can arrange evening and weekend appointments.