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Wills & Trust Law

Tungsten Law Center can help you understand how you're planning your future. A trust is a type of legal relationship in which one party (the settlor or grantor) transfers legal ownership of assets (property, money, etc.) to another party (the trustee). The trustee uses these rights to manage assets on behalf of third parties (called beneficiaries). A trust allows you to keep your assets in a safe place until you are ready to use them.

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Benefits Of Having A Trust

There are many reasons why trusts should be included in your estate plan as one of the tools to help you manage your assets the way you want after your death. Some of the most common reasons are listed below:

  • Safeguarding and properly managing the assets of minor beneficiaries until they are old enough to care for themselves.

  • Protect trust assets from probate.

  • Maintain the privacy of family assets and their distribution.

  • Ensuring a clear and efficient succession plan for business-related assets.

  • Manage asset distribution so that your spouse or dependents have access to need-based, means-tested public programs.

  • Create a clear plan for the long-term stability of your loved one with a disability while planning for special needs.

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