Estate Planning

Colorado Trust Attorneys

A trust is a legal entity that exists to hold assets for the benefit of one or more beneficiaries. A trust is a contract between the grantor or settler (the person who creates the trust) and a trustee (person who holds legal title to property in the trust until the trust provides for distribution). Trusts can make distributions to beneficiaries during the lifetime of the grantor or at the death of the grantor.

Trusts can serve several important functions including:

  • Planning for your possible disability
  • Avoiding probate
  • Facilitating the use of estate tax exclusions
  • Planning for your current or former spouse
  • Making special lifetime provisions

In order to create a valid trust, there must be an ascertainable beneficiary, a named or appointed trustee, a present and existing property, and intent by the settler to create a trust. Additionally, the settler must have the intent and the capacity to create the trust. Our Colorado trusts attorneys at Jorgensen Brownell & Pepin, P.C. will take the time necessary to ensure that your trust is properly created.

In recent years, we've seen a disturbing trend in the number of trusts being mismanaged. That's why we take the time necessary to create comprehensive estate plans secured through legal and financial checks and balances and fail-safe measures, such as indemnification clauses for trustees. We protect assets through careful financial planning, and we anticipate problems before they arise in order to make sure your financial legacy stands the test of time.

Special Needs Trusts

Special needs trusts are developed for the benefit of someone requiring government need-based assistance such as Supplemental Security Income (SSI) or Medicaid. The trust allows the beneficiary to receive assistance from the trust without losing government benefits.

Special needs trusts are commonly used to pay for the things that government programs don't cover, such as:

  • Vacations
  • Furniture
  • Other household items
  • Education
  • Vehicles
  • Out-of-pocket medical expenses

A special needs trust must comply with very specific criteria in order to be valid. For example, the trustee must have total control over the trust assets; the trust can only be used to pay for goods and services not covered by the government programs; the trustee cannot distribute any of the trust income or assets directly to the beneficiary; and the trust agreement must include very specific language. Our estate planning attorneys can draw up your special needs trust to ensure your beneficiaries will be provided for, without losing their government benefits.

Jorgensen, Brownell & Pepin, P.C.: Offering Trust Litigation Services

At Jorgensen Brownell & Pepin, P.C., our Colorado estate planning lawyers have substantial experience representing clients regarding the validity of a trust; modifications and amendments to a trust; removing or appointing a trustee; breach of fiduciary duties; and demanding an accounting of the trust. A trust can be attacked in the same manner as a will contest. You can bring a claim for undue influence, lack of capacity and or fraud. Our attorneys will assist you in every step of the trust litigation and work diligently and aggressively to ensure that your trust assets are protected.

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