Create, Update Or Administer A Trust For Peace Of Mind
Trusts are important estate planning tools in many families and for individuals with businesses and/or favorite charitable causes. Putting assets in trusts can help keep some or all of an estate out of probate court. Trusts also allow for a more seamless transfer of assets to beneficiaries than is the case with wills.
Nolan, Mulford & DeLeeuw provides comprehensive estate planning for clients throughout Missouri, primarily reaching people in Kirksville and surrounding portions of northeast Missouri. To explore all estate planning components, consult with attorney Joshua DeLeeuw at our firm. His extensive background in tax law enhances his ability to provide individualized legal counsel.
Types Of Trusts And Their Advantages
Examples of trusts that we help clients create and administer include:
- Revocable trusts
- Irrevocable trusts
- Special-need trusts
- Generation-skipping trusts
- Charitable remainder trusts
Trusts often play a role in protecting assets for an elderly or disabled family member who needs long-term care. With careful planning, such individuals may retain eligibility for Medicaid and other government assistance while still enjoying a better quality of life through assets protected in trusts.
Attention Gun-Owning Families: There Are Trusts Just For You
In many families, gun ownership is a time-honored tradition and the passing on of firearms from one generation to the next is a source of pride and security. Nolan, Mulford & DeLeeuw offers guidance in the creation and administration of gun trusts. A well-crafted gun trust can:
- Protect beneficiaries from excess taxation
- Help beneficiaries avoid criminal liability
- Ensure that guns transfer to designated beneficiaries
You might accomplish these goals through the creation of revocable or irrevocable management trust that takes title to your firearms. The firearms that you can include in your gun trust(s) will be weapons that are appropriately classified under the National Firearms Act (NFA) Title II of the Gun Control Act of 1968. Such weapons include automatic machine guns, short-barreled shotguns or suppressors. The trust can prevent a beneficiary from being guilty of a felony without knowing it. Even if your guns are simply rifles, pistols and revolvers, it would be worth your while to discuss your situation and goals with a knowledgeable attorney at Nolan, Mulford & DeLeeuw. Our lawyers are thoroughly familiar with the use of gun trusts facilitating transfers of firearms.
Put Legacy Assets In Order With Confidence
Discuss your hopes and your family’s projected future needs with an estate planning attorney in Kirksville. Mr. DeLeeuw has a master of law degree with a focus on tax law. He is ready to advise you in the right direction.