Estate Planning Attorney's Guide to Trusts in Point Clear
When it comes to protecting your legacy and making sure your loved ones are taken care of, few things are more important than proper estate planning. At Johnstone Adams, LLC, our estate planning attorneys have been helping families in Point Clear, AL, make confident, informed decisions for over a century. One of the most effective ways to protect your assets and simplify the process for your heirs is through a trust. But with so many different types of trusts out there, how do you know which one is right for you? That’s where our experienced local estate planning attorneys come in. Let’s walk through the basics together.
What Is a Trust, and Why Do You Need One?
A trust is a legal arrangement that allows you to transfer your assets to a trustee, who manages them on behalf of your beneficiaries. It can help you avoid probate, reduce estate taxes, protect your privacy, and control how your assets are distributed after you pass.
Working with a local estate planning attorney ensures your trust is structured properly and aligns with Alabama laws and your specific financial goals.
Exploring the Four Main Types of Trusts
Choosing the right type of trust depends on your personal circumstances, goals, and the size of your estate. Here’s a breakdown of the four most common types our estate planning attorneys recommend to families in Point Clear, AL:
1. Revocable Trust
- Also known as a living trust
- Can be changed or canceled during your lifetime
- Helps avoid probate
- Allows you to maintain control of your assets while alive
Best for: Individuals who want flexibility and control while planning for the future.
2. Irrevocable Trust
- Cannot be changed once it’s set up
- Offers strong protection from estate taxes and creditors
- Removes assets from your taxable estate
Best for: Those looking to reduce estate taxes or protect assets from legal claims.
3. Living Trust
- Created during your lifetime
- Can be either revocable or irrevocable
- Helps manage assets in case of illness or incapacity
Best for: Families who want a plan in place if they become unable to manage their own affairs.
4. Testamentary Trust
- Created through your will and only goes into effect after you pass
- Does go through probate
- Often used to set conditions on inheritance (e.g., age or milestones)
Best for: Parents who want to provide structure for young or financially inexperienced heirs.
Why Choose a Local Estate Planning Attorney in Point Clear, AL?
Estate laws vary from state to state, and your estate plan should reflect those details. That’s why working with a local estate planning attorney from our team is key. We understand Alabama’s estate laws inside and out, and we’re here in your community when you need us most. We provide personalized guidance, not cookie-cutter plans, so you can feel confident that your legacy is in good hands.
Secure Your Legacy Today
Whether you're just getting started with estate planning or want to update an existing trust, the team at Johnstone Adams, LLC is ready to help. Call us at (251) 432-7682 to connect with a estate planning attorney in Point Clear, AL. Let’s create a plan that brings you peace of mind and gives your loved ones the security they deserve.
