Why Is A Trust Important? Find Out From An Experienced Hudson, Wisconsin Trust Attorney

Planning for the future often means more than just writing a will. Trusts offer an important way to manage your assets, protect loved ones and help ensure your wishes are honored. Setting up the right trust can feel complicated, but it becomes much easier with the right legal support.

At Mudge Porter Lundeen & Seguin, S.C., we serve the Hudson, Wisconsin, community, where we are an integral part of building a stronger, more secure future for families. Since 1983, our firm has built a strong reputation with the local bar and the bench. Judges and fellow lawyers recognize our commitment to handling every case, big or small, with care and precision.

Types Of Trusts To Consider

A trust is a legal arrangement where a person (the grantor) places assets into the care of a trustee, who manages them on behalf of beneficiaries. Choosing the right trust depends on what you hope to achieve. Here are a few options:

• Special needs trust: Protects assets for a loved one with disabilities without affecting their eligibility for government benefits.
• Generation-skipping trust: Allows assets to be passed directly to grandchildren, skipping over the children’s generation to minimize estate taxes.
• Charitable remainder trust: Provides income to beneficiaries for a set time, after which the remaining assets are donated to a charity of your choice.

Trusts can be used to minimize taxes, avoid probate and protect family members. We can help determine which fits your family’s needs best.

Frequently Asked Questions About Wisconsin Trusts

Here are answers to commonly asked questions:

What is the difference between a will and a trust?

A will is an estate planning document that directs how and to whom you’d like your assets distributed after death. A will proceeds through the probate process, which is often lengthy. A trust, alternately, avoids the probate process and allows for a quicker transfer of assets to a designated beneficiary.

Do trusts avoid probate?

Yes, assets in a properly structured trust bypass the probate process, allowing for faster and more private distribution.

Can a trust be changed?

Some trusts are revocable, meaning the grantor can change or cancel them. Others, like irrevocable trusts, are more permanent. Our lawyers will help you decide which is right for you.

Learn More About How A Specific Trust Can Help You. Reach Out Today.

If you have questions about trusts in Wisconsin and how they can benefit your family, reach out to us at Mudge Porter Lundeen & Seguin, S.C.. Call us at 888-365-5389 or complete the online contact form.