Revocable & Irrevocable Trust Lawyers in Wichita

At Larson, Brown & Ebert, P.A., an experienced Wichita trust attorney can help you prepare the revocable or irrevocable trust that is right for you and your family. Our practice is narrowly focused on wills, trusts, estate planning, and related practice areas.

When you plan your estate, one of your first decisions will be whether to set up a trust. Many people in Kansas choose this estate planning option because of the significant advantages that trusts offer.

When you set up a trust, you may transfer your assets into the trust throughout your lifetime. Those assets will be conveyed to your beneficiaries upon your death by the person you have chosen as a successor trustee, who will have duties comparable to the duties of a will’s executor.

What Advantages Do Trusts Provide?

A trust is a legal and financial document that lets you name a trustee to manage your assets for your beneficiaries. Your trust document may specify how and when your trustee distributes the assets to the beneficiaries. Even before you contact a Wichita trust lawyer at Larson, Brown & Ebert, P.A., consider these reasons why so many people choose to set up a trust:

1. Trusts are not subject to probate. Probate proceedings are costly and delay the distribution of your assets to your loved ones.
2. Probate proceedings in Kansas are on the public record. Trusts are not available for public scrutiny after your death, so a trust protects your privacy.
3. Some trusts provide estate tax and income tax savings.
4. If you suddenly become disabled or incapacitated, a trust lets your designated trustee take charge of the trust immediately and without court interference.

A trust lets you decide what happens to your assets and property. You decide on your trust’s terms and conditions, who inherits your assets, and when those assets will be transferred. Every trust is unique, but some trusts are “revocable,” while others are “irrevocable.”

How Do Revocable and Irrevocable Trusts Differ?

A trust gives legal protection to your property and assets and ensures their smooth transfer to your beneficiaries. It lets your beneficiaries and estate avoid the long, costly probate process. An irrevocable trust lets your beneficiaries avoid or reduce the federal estate tax.

A revocable trust (sometimes called a “living” trust) can be changed or cancelled at any time, but in most cases, an irrevocable trust cannot be changed after it is signed and takes effect. If asset protection is your primary reason for establishing a trust, consider an irrevocable trust.

Creditors sometimes “go after” assets in revocable trusts because you can transfer those assets, so they remain under your control. But your creditors may not access the assets transferred to an irrevocable trust because irrevocable trust assets are not legally in your control or possession.

How Can Larson, Brown & Ebert, P.A. Assist You?

A trust is a practical estate planning tool, but its details can be hard to understand. And because everyone’s circumstances are unique, when you set up a trust, you should have personalized guidance and advice from a Wichita trust attorney at Larson, Brown & Ebert, P.A.

Establishing the right trust with the right details requires thorough, thoughtful consideration. Larson, Brown & Ebert, P.A. can help you create a customized trust that achieves your goals and ensures your family’s long-term financial security.

At Larson, Brown & Ebert, P.A., a Wichita trust lawyer can assist you, offering insights, recommendations, and suggestions until you are satisfied that you’ve prepared a trust that’s right for you and your family members.

When Should You Consult Larson, Brown & Ebert, P.A.?

Why retain a trust attorney when you can download blank forms and do it yourself? Because there is no “one-size-fits-all” trust. You’ll want personalized advice, and you can’t risk making a costly mistake. A trust lawyer can also provide insights you may not otherwise have considered.

We can’t predict tomorrow, so the time to begin setting up a trust is today. Too many people wait until they are forced to make estate plans in a hurry, and the results are sometimes disastrous. Let Larson, Brown & Ebert, P.A. help you with your estate planning goals, starting today.

Let Us Prepare or Update Your Trust

If your trust has not been updated or if it was created in another state, call us at Larson, Brown & Ebert, P.A. Your trust may need updating if there has been a major change in your life, such as a marriage, divorce, or if you’ve recently moved to Kansas from a state with different tax laws.

We have extensive experience advising clients and their families throughout the state of Kansas. Let Larson, Brown & Ebert, P.A. prepare or update your trust, or learn more about our estate planning services by calling our offices at 316-530-8621  to schedule a consultation.