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Trusts Livonia, MI

What is a Trust?

A trust is a legal arrangement in which one party, known as the grantor, transfers assets to a trustee. The trustee holds and manages these assets for the benefit of a third party, the beneficiary, and also the grantor in certain cases. Trusts are essential tools in estate planning, offering a structured way to manage and protect your assets during your lifetime and beyond. At Jabbour Law, based in Livonia, Michigan, we specialize in creating customized trusts that align perfectly with your family's unique needs and goals.

Types of Trusts

  • Understanding the different types of trusts is crucial to determining which one best suits your needs. Here are the primary types of trusts we handle at Jabbour Law:

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  • Revocable Trusts: Also known as living trusts, these can be altered or revoked by the grantor during their lifetime. They provide flexibility, control over your assets, and distribution and management of your assets after you pass away.

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  • Irrevocable Trusts: Once established, these trusts cannot be changed or terminated without the beneficiary's consent. They offer significant tax benefits and asset protection.

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  • Special Needs Trusts: Designed to provide for a beneficiary with special needs without disqualifying them from government benefits.

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  • Charitable Trusts: These trusts allow you to support charitable organizations while providing tax benefits.

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  • Testamentary Trusts: Created as part of a will, these trusts take effect upon the grantor's death and are often used to manage assets for minor children.

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Benefits of Creating a Trust in Michigan

01

Avoiding Probate

Trusts allow your assets to pass directly to your beneficiaries without the need for probate, saving time, money, and heartache.

02

Privacy

Unlike wills, which become public record, trusts remain private, protecting your family's financial matters from public scrutiny.

03

Control Over Distribution

04

Asset Protection

Trusts give you the ability to specify how and when your assets are distributed, ensuring your wishes are followed.

Trusts can protect your assets from creditors and legal claims, providing peace of mind that your wealth is secure.

05

Tax Benefits

Certain types of trusts can offer significant tax advantages, helping to preserve your estate's value for your beneficiaries.

Livonia Michigan Trust Lawyer

Imagine a seamless transition of your legacy to your loved ones in Livonia and throughout Michigan, free from the burdensome ordeal of probate. Protect your legacy and spare your family the hassle and expense of probate with a personalized trust from Jabbour Law. Our expert team crafts meticulous estate plans that align seamlessly with your family's unique needs. At Jabbour Law, we are dedicated to providing comprehensive estate planning services, including creating trusts that reflect your personal and financial goals. Our experienced attorneys work closely with you to understand your unique situation and develop a customized plan that ensures your assets are protected and your wishes are honored. Not worried about probate? We've got you covered. Jabbour Law drafts clear, compelling wills that ensure your final wishes are understood and respected in court.

Contact Jabbour Law Today

Protect your legacy and ensure your loved ones in Livonia, Michigan, and the surrounding Metro Detroit area are taken care of with a trust from Jabbour Law. Contact us today to schedule a free consultation and learn more about how we can help you create a comprehensive estate plan that meets your needs.

Get Started Today

9142 Middlebelt Road, Livonia, MI 48150

(313) 504-4704

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