Protecting Your Wealth For Your Family
A trust is a good way to ensure that your family receives the property and assets you worked so hard to provide for them. A lawyer can help you determine what type of trust to use and how to have it administered.
My name is William C. Wombacher, and I can help you create a trust that fits your needs and serves the interests of yourself and your family. During my 35 years of practice, I have helped hundreds of families in and around Peoria, Illinois, preserve their wealth and ensure their own well-being through the use of estate planning and elder law. I will do the same for you and your family.
What Can A Trust Do For Me?
A trust can be administered much like a will, stating how you would like your property and assets distributed amongst your heirs. Unlike a will, which becomes public record, a trust is private. This means information about you and your family will be protected from scrutiny. Putting your property and assets into a trust also means that portion of your estate is not subject to probate, which can save your family money.
I can craft a trust document that specifies your wishes and protects your wealth for your family. I can also make special provisions for administration of the trust so you can dictate when disbursements occur or how they are to be used. I draft a variety of trusts, including:
- Revocable or living trusts — These allow you to amend the trust while you are still alive. There may be tax implications with this type of trust.
- Irrevocable trusts — These trusts cannot be altered once they are put in place, but they are not usually subject to estate taxes.
- Disclaimer trusts — These are used so your surviving spouse can disclaim property and pass it on to the trust without tax penalties.
- Bypass trusts — These pass your wealth onto the trust instead of your spouse, and pays him or her principal or income for the rest of his or her life.
- Special needs trusts — To provide for a mentally or physically disabled child or adult at your death to insure they do not lose their benefits.
- Education trusts — For the education of children or grandchildren.
- Specialized Medicaid trusts — As part of Medicaid planning.
Work With An Attorney To Find The Best Solution For Your Situation
Call The Law Office of William C. Wombacher at 309-674-8125 or send me an email to schedule a free consultation. If you are unable to make it to my office, I will come to you.
