Southeastern Wisconsin Law Firm for Wills and Trusts
Living trusts are effective estate planning tools that allow individuals to maintain control over their assets during their lifetimes and provide for the seamless transfer of assets upon their passing. At Antonopoulos Leonhard Group LLC in Waukesha County, we recognize the importance of establishing and maintaining living trusts to protect assets, minimize tax liabilities and ensure that the wishes of our clients are upheld.
Our attorneys possess extensive knowledge about estates and trusts and work closely with clients to create customized living trust documents that reflect their specific goals and intentions. Attorney Ashley Lillesand-Leonhard brings more than 17 years of experience in the areas of trusts and estates.
How a Trust Can Meet Your Needs
A trust creates a legal entity to contain property as well as naming someone to act as the trustee and manage that property. When you create a revocable living trust, you will retain possession and use of your property while living. You can change or revoke it at any time while you are still alive and competent.
The people involved in a trust are:
- The grantor or settlor (the person creating the trust)
- The trustee, responsible for managing it
- The beneficiary or beneficiaries who will ultimately receive the assets in the trust
For clear and detailed explanations about how a revocable living trust works in practice, consult with an estate law attorney. Attorney Lillesand-Leonhard has more than 17 years of experience in estate planning. She is available to help you understand and create one or more trusts. Other types of trusts include:
- Special needs trusts
- Irrevocable asset protection trusts
She can help you put property into the trust. You will also create a pour-over will to account for any property that is not in the trust when you die.
Put Your Estate in Order With a Trust
The benefits of trusts include the following:
- They can keep property out of probate.
- They set up a system for the management of your property if you become incompetent
They provide streamlined processes by which trustees and beneficiaries can gain access to the assets in your trust without the delays associated with probate. If you have minor children, a trust may be especially helpful if someone else cares for them after your death.
Keep in mind that trusts do not eliminate taxation of assets or income during your lifetime. The costs of administering a trust may be similar to those of probate. Saving on taxes or probate fees is not, therefore, the main reason for establishing a trust. Flexibility during your lifetime and efficiency in trust administration are strong motivators for people who set up trusts.
Learn About Your Options During a Consultation
To schedule a consultation about creating or revising one or more trusts in southeastern Wisconsin, contact lawyer Lillesand-Leonhard at 262-649-5572 or send an email inquiry. We want to hear about your aspirations and bring our knowledge to the table for your benefit. We serve clients in Milwaukee, Brookfield, Waukesha and surrounding communities.