Albuquerque Trust Preparation Attorney
Preparing a living trust requires the attention of an experienced probate attorney. With 25 years of experience, Albuquerque probate attorney Benjamin Hancock has the extensive trust law knowledge necessary to help you protect your estate and your loved ones.
What is a trust?
A trust is a legal agreement between three parties. The first party (called thetrustor or settlor) transfers their assets to a trust. A third party, called thetrustee, manages the assets for the benefit of the beneficiaries of the trust. There are many different types of trusts under New Mexico trust law.
The trustee is responsible for managing and investing the property on behalf of the beneficiaries, and for ultimately distributing the property to the beneficiaries. If a trustee fails to act in the beneficiaries' best interest, attorney Benjamin Hancock provides representation in trust litigation cases to see that the problem is resolved. In some cases, removing the executors and trustees is necessary.
When does a trust make sense?
Contrary to popular belief, you don't have to be wealthy to take advantage of trusts. In certain limited circumstances, trusts can be valuable tools for protecting your privacy and providing for your loved ones.
You can set up and manage a trust during your lifetime, a move that is especially strategic when:
- The beneficiary is a minor.
- The beneficiary is a spendthrift, incapacitated, or incompetent.
- You want to maintain some control over the assets transferred to a loved one.
- The value of the estate exceeds the current minimum value at which Federal estate taxes will apply.
You reserve the right to update or terminate your living trust at any time. You can create a living trust for your heirs, or you can create a charitable trust for a charity that you care about. To learn about all the aspects of trust law, seek assistance from an experienced trust attorney like Benjamin Hancock.
Schedule a Consultation
Protect your loved ones and your estate with a living trust drafted under the advice of an attorney experienced in trust and probate law. Schedule a consultation with an Albuquerque probate lawyer by contacting the Law Office of Benjamin Hancock, P.C. at 505-508-4343.