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Trust Lawyer Cheyenne, WY

trust lawyer Cheyenne, WY

Planning For The Future With A Trust

If you are considering creating a trust as part of your estate plan, our Cheyenne, WY trust lawyer is here to help you. Creating a comprehensive estate plan is a crucial component of ensuring that your future, and the future of your family and friends, is secure. Our dedicated trust lawyers have over 50 years’ worth of experience assisting clients with their estate plans. With their extensive knowledge and experience on your side, you can rest assured that your estate plan is in good hands. To begin discussing your trust, contact our team at Davis & Johnson Law Office today to schedule a consultation. 

Understanding Trusts

A living trust gives you the ability to place your assets into a trust while still maintaining control of them during your lifetime. Once you have passed, the assets in your trust will be passed onto the beneficiaries that you have noted. One benefit of creating a living trust rather than a will is that assets placed in a living trust do not have to go through the process of probate before being distributed, significantly simplifying the process. 

In creating a trust, you will name a trustee who is in charge of maintaining and managing the assets in the trust. Oftentimes, you will name yourself as the trustee in order to maintain control over your assets. A successor trustee will be named to oversee the distribution of the assets according to your wishes after your death. 

When making decisions regarding your trust, it is important to understand the difference between revocable and irrevocable trusts. A revocable trust is a trust that can be altered, amended, or revoked at any point during your lifetime, giving you the flexibility to update your estate plan with the changes that will come during your life. Once you have passed, a revocable trust can no longer be amended. An irrevocable trust is a trust that cannot be amended at any point once it has been established. Once you place your assets in an irrevocable trust, you essentially sign away ownership and control of these assets. This particular type of trust is often used to protect assets for tax advantages. Our Cheyenne trust attorney will help you understand your trust and what options are best for you.

Tax Benefits Of Trusts

Certain trusts can also have important tax benefits for their creators and beneficiaries. Benefits such as estate tax reductions, protection from capital gains tax, charitable deductions, gift tax advantages, and income tax planning benefits can be added incentives to create a trust. To discover exactly how a trust might benefit you and your beneficiaries, contact our Wyoming trust lawyer.

Our Professional Assistance With Your Trust

While trusts can be extremely beneficial and make the process of distributing your assets much easier for your beneficiaries after your death, they can also be quite complicated to establish. Our experience assisting clients with trusts and knowledge of the laws regarding trusts in Wyoming can make the process easy for you. We will ensure that your trust is valid, enforceable, and accurately reflects your wishes and goals. To start your estate planning journey with a trust, contact Davis & Johnson Law Office today.

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1807 Capitol Avenue Cheyenne, Wyoming 82001