A Trust is a present financial management tool that will also speak for you after death.  As such it can serve to avoid the need for probate proceedings. It can unburden you of the need to personally manage your financial affairs and give you the confidence of present financial management through a trustee, perhaps a bank, and set forth your instructions for distribution of your estate after death.  A Trust is a valuable tool if you have wealth in need of professional management, anticipate future need of professional assistance in the management of your personal affairs or properties, desire to avoid a probate proceeding, or wish your estate and financial affairs kept from public view. Typically, a Revocable Trust is employed. It allows you to modify or cancel the Trust if desired. Irrevocable Trusts are used to manage gifts to heirs.

Trusts can also be used to manage a family lake cabin, a child’s inheritance, and special needs of children with disabilities. Mr. Kelly can answer your trust questions and educate you on the benefits and process of trust creation and management.

A Special Needs Trust can be established by a parent for a child burdened by disabilities. It cannot, however, be established by the child themselves and certainly not by them after they have received an inheritance. A Special Needs Trust provides an income stream that supplements government support benefits available to a disabled person without the whole trust corpus needing to spent or paid to the government. A family with a member who has disabilities should discuss the inclusion of Special Need Trust provisions in their Estate Plan.