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Trust Attorney in Leesburg

Financial Protection for Your Family

A trust is an arrangement that, after your death or during your incapacity, allows a third party – called a trustee – to hold onto assets for beneficiaries. When establishing a trust, you can specify how and when your assets will be passed onto your beneficiaries.

Some of the many benefits of trusts include:

  • Avoiding probate: Trusts can generally prevent your family from going through probate, allowing them to gain access to your assets more quickly and without paying court fees.
  • Flexible control of your assets: You have the power to determine when and how your assets will be passed on. Revocable trusts also grant you access to assets during your lifetime.
  • Protection: Maybe your beneficiary is not the best at managing money, or maybe your heirs have creditors hounding them for debts owed. Either way, a trust will protect your assets from these situations.
  • Privacy: By avoiding probate, you are also avoiding a publicized court case and public record.

At Legacy Law Centers, our Leesburg trust attorney has extensive experience and expertise helping clients establish and implement trusts that save their families time, money, and the stress of probate. Let us help you set up a trust that will effectively protect your assets and your family’s future.

Contact us online or call (571) 200-5559 to get started.

Revocable Living Trusts

A revocable living trust is a convenient, flexible, and protective tool commonly used in estate planning. When you fund a revocable living trust, you can add or subtract assets as you like, change the terms of the trust, and dissolve the trust altogether during your lifetime. You don’t even need to file a separate tax return – the process is quite simple.

Family Bank Trusts

Families with a high net-worth and individuals in high-risk professions such as real estate developers, business owners, doctors, and lawyers can often benefit from a family bank trust (FBT). An FBT offers both asset protection and access.

When a person creates a family bank trust and transfers assets into it, beneficiaries – including a spouse and/or children – have access to the funds. The grantor spouse – the one who created and funded the trust – pays the income taxes on the funds, which provides an additional non-taxable gift.

Benefits of a family bank trust include:

  • Beneficiaries’ creditors do not have access to the funds
  • Your own creditors cannot seize the funds
  • There are no federal estate taxes on assets transferred into the trust or paid on income taxes on trust funds

Grandchildren’s Trusts

Rather than superfunding UTMA and UGMA accounts, consider funding grandchildren’s trusts. By using a grandchildren’s trust, you can create a legacy for your grandchildren and prevent them from misusing funds at a young age.

Your grandchildren will benefit from this kind of trust because:

  • Your assets can’t be seized in a lawsuit, car accident, medical crisis, bankruptcy, divorce, business failure, or another similar event
  • Your assets are protected from estate taxes
  • The trust can be dissolved if assets get spent down to pay for education, the formation of a business, or whatever you instruct

Are you interested in establishing a trust for the beloved children or grandchildren in your life? The Leesburg estate planning attorney at Legacy Law Centers can discuss your options and help you decide what kind of trust might be right for you and your family. We serve clients throughout Loudoun County and look forward to helping you protect your family’s future with a trust.

Get in touch with Legacy Law Centers today by calling (571) 200-5559.

Client Testimonials

Our Leesburg Estate Planning Attorney Can Help You, Too

At Legacy Law Centers, our aim is to help clients and their families prepare for the future. Attorney Sam Mansoor provides personalized estate planning assistance with the tools, resources, and expertise necessary for a world-class experience. Discover what our satisfied clients have to say.

  • “A wonderful help to me and my family.”

    Lynn

  • “Sam appeared on my behalf twice and got me a great outcome.”

    Georgi

  • “Top Notch Lawyer.”

    Megan

  • “The experience couldn't have been better!”

    Jered

  • “He approached both my cases with focus and preparedness.”

    Lone B.

  • “Sam goes above and beyond what I envisioned an attorney could provide me.”

    Joey

  • “Sam took time in every step of the way to listen to my inquiries about the process.”

    Eric

  • “I highly recommend Sam and his associates!”

    Danny

  • “If you are looking for a knowledgeable good lawyer than look no further.”

    Tamera

  • “Responsive, analytical and talks to you on your level.”

    Dave G.

  • “He took the time to understand our case and thoroughly explained our rights so that we could fully understand the legal terminology.”

    Former Client

  • “Mr. Mansoor saved me $6800+ in past rent and fees.”

    Former Client

  • “Best Family Law Attorney in Virginia.”

    Kamal

  • “Estate Planning Genius!”

    Michael

  • “Excellent attorney.”

    Carol