At Perry, Bundy, Plyler & Long, LLP, our Monroe trust planning attorneys are diligent, reliable, and detail-focused advocates for clients. A trust can be an efficient and cost-effective estate planning tool in many different situations. We help people and families determine if trust is the right choice for their circumstances. If a trust is in your best interests our legal team can put the right one in place. To arrange your confidential, no commitment consultation with a North Carolina estate planning lawyer, please do not hesitate to contact our Monroe law office today.

What is a Trust?

There is a relatively common misconception that trusts are an estate planning tool that can only be used by people who are extraordinarily wealthy. The reality is far different. Setting up a trust can be an effective estate planning strategy in a wide variety of situations. A trust is simply a legal relationship between three parties:

  • Grantor: The person or persons who initially set up and fund the trust.
  • Trustee: A fiduciary who is responsible for managing the trust for the beneficiaries.
  • Beneficiary: The person or persons for whom the money, property, or assets within the trust are being held.

Trusts are regulated by North Carolina law. For certain types of trusts, there are also some federal legal requirements. It is imperative that a trust is structured and managed properly—in full compliance with all applicable rules and regulations. A trust should always be set up by an experienced North Carolina estate planning lawyer.

We Help People and Families in North Carolina With the Full Range of Trusts

There are many different types of legal trusts that can be established in North Carolina. If you are using a trust as part of your estate plan, it is crucial that you have the proper structure in place for your needs and your goals. At Perry, Bundy, Plyler & Long, LLP, we help clients with the full spectrum of trusts. Some examples of trusts that our Monroe estate planning lawyers can assist clients with include:

  • Revocable Living Trust: A revocable living trust is one of the most popular estate planning tools in North Carolina. It allows the trustee to retain control over trust assets during their lifetimes and can assist in the transfer of assets upon death.
  • Special Needs Trust (SNT): Do you have a loved one with special needs? If so, a special needs trust may be a key part of your estate plan. There are major downsides to leaving money or assets directly to someone with special needs. Public programs—Medicaid, SSI, etc—are based on income and financial need. A special needs trust allows you to leave assets to a loved one without disqualifying them from public aid.
  • A trust For Minor Children: In North Carolina, minors cannot legally inherit. So, if you have minor children or other beneficiaries, a trust is a necessary part of your estate plan.
  • Charitable Trust(s): Are you considering leaving a generous donation to a charity? If so, trust may be the most cost-effective way to do so. The right trust depends on your goals and your financial situation.

Why Rely On Our North Carolina Trust Planning Attorneys

Trusts are complicated. At the same time, they can be cost-effective and efficient. At Perry, Bundy, Plyler & Long, LLP, we help put the right estate plan for their specific needs and goals. If a trust makes sense for you and your family, our legal team is available to help. Among other things, our Monroe trust planning attorneys are ready to:

  • Listen to your goals, review your financial situation, and answer your questions;
  • Help you weigh the advantages and disadvantages of each type of trust you are considering;
  • Draft the trust paperwork; and
  • Take action to ensure that you have a comprehensive estate plan in place.

Contact Our Monroe, NC Trust Planning Lawyer Today

At Perry, Bundy, Plyler & Long, LLP, our Monroe estate planning attorneys have the skills and legal knowledge to help people and families with all types of trusts. If you have any specific questions or concerns about trusts, we are here to help. Contact us now for a fully confidential initial review of your case. From our Monroe law office, we provide trust planning services throughout all of Union County, including in Indian Trail, Marshville, Unionville, Waxhaw, Weddington, and Matthews.

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