An American trust has many potential benefits, including the avoidance of potentially expensive and time-consuming US legal estate processing. One of the main types of trusts is the Living Trust, a trust that is already in force during the lifetime of the customer. In addition, a distinction must be made between the revocable versus irrevocable trusts. A trust is usually part of a comprehensive estate plan and is designed to meet the client’s individual needs.
Living Trusts – we represent clients in setting up and running Living Trusts. Living trusts have many advantages. In particular, this can avoid the problems and the loss of time of a judicial procedure of inheritance. A Living Trust is considered a separate asset. We will help you design a Living Trust that meets your individual needs and wishes.
Revocable Trusts – The firm advises clients on the design or settlement of a revocable trust. A revocable trust may be revoked or supplemented during the lifetime of the customer. After the demise of the customer, the property goes to the beneficiary or beneficiaries. At the moment of death, the revocable trust usually becomes irrevocable.
Irrevocable Trusts – An irrevocable trust can not be changed without the consent of the Beneficiary. The reason for this is that the purchaser irrevocably transfers his rights to the trust in favor of the beneficiary or beneficiaries, which may include the purchaser of the trust. We help clients design irrevocable trusts that meet their individual needs. Due to the particularities of this trust, counseling by a solicitor is particularly important to meet the legal requirements of an irrevocable trust.
Often, trusts are not formulated properly. A trust can be misconceived or poorly managed and have deficiencies for other avoidable reasons. We help clients develop an understanding of the trust and determines whether an already established trust can be challenged in court.