Estate Planning & Living Trust Services
Protecting your estate and your loved one requires help from an experienced probate attorney. For 25 years, people have trusted Albuquerque, New Mexico attorney Benjamin Hancock to provide living trust services, including trust preparation, assistance with trust administration, and trust litigation in the event of disputes.
Living Trust Services in Albuquerque, New Mexico
When you contact New Mexico attorney Benjamin Hancock for trust litigation services, you gain the confidence of knowing your wishes will be met after you are gone. The decisions you make today will directly affect what happens to your assets tomorrow.
As a trust, wills and probate lawyer, attorney Benjamin Hancock makes it easy to talk about difficult decisions. He engages in a wide range of estate planning services, including trusts, wills, powers-of-attorney, and advance medical directives.
What are the differences between wills & trusts?
Like a last will, a living trust distributes property to heirs. In the case of a will, the property is distributed to the heirs in accordance with the terms of the will. In the case of a trust, the property is distributed to a third party (the Trustee), who in turn distributes the property to the designated beneficiaries.
Trusts may be preferred over wills in certain limited circumstances. One primary example is the larger estate, since a trust may help avoid estate and income taxes. Trusts may also be desirable in cases involving an incapacitated or incompetent person, or in the case of a spendthrift beneficiary. Lastly, trusts are an attractive alternative to wills in cases where privacy is a concern, as the trust is kept out of the public records.
Why is probate preferred over trusts?
During the past 20 years or so, so-called "living trusts" have become increasingly popular as some people have come to believe that probate should be avoided. However, this is a common misconception. Probate is a time-honored process that is an established, reliable, and cost-efficient way for someone to transfer their property after they pass away. In the typical estate, drafting a will and having it admitted to probate is much preferred over utilizing a living trust.
If you are unsure whether you should draw up a will for your estate, contact Attorney Benjamin Hancock for sound legal advice.
Requirements for a Valid Trust in New Mexico
Because probate law is complex and time-consuming, it is not advisable to create a trust on your own.
There are several requirements for your living trust to be valid in New Mexico:
- The settlor (the person who creates the trust) has the capacity to create the trust
- The settlor indicates an intention to create the trust
- The trust has a definite beneficiary
- The trustee has duties to perform
- The same person is not the sole trustee and sole beneficiary
You want to protect your assets and provide for your heirs. Take the worry out of planning your estate by contacting Benjamin Hancock, an experienced wills, trust and probate lawyer. You can count on Attorney Benjamin Hancock to provide you sound advice and act as a dedicated advocate on behalf of your interests.
Contact an Albuquerque probate at 505-508-4343 today!
When you choose the Law Office of Benjamin Hancock, you will always be treated with dignity and respect. The probate lawyer will return your phone calls promptly, answering any questions you have in plain English, not legalese. Schedule a consultation at his law office today.