Preserving Assets For You And Loved Ones Through Trusts

There is a common misperception that trusts are only for the extremely wealthy. This is simply not true. There are numerous types of trusts available for people in Ohio. While there are certainly options for people who are looking to minimize their estate tax burden and guard against unwise spending of large fortunes, in reality, most trusts are made by everyday people for loved ones that accomplish specific purposes.

At King, Koligian & Associates, LLC, we understand that your family is important. We are ready to assist you in drafting and reviewing an estate plan that meets your needs. With decades of experience in estate planning and family law, we know how to protect family relationships and preserve assets. It is what we have been doing successfully for years.

Which Trust Is Right For You

We can help you create a trust suitable to your situation, including:

  • Revocable living trusts. These trusts are in effect during your lifetime, and you are free to change them when circumstances change.
  • Irrevocable trusts
  • Testamentary trusts. Associated with your will, this is a type of trust that you may use for your children. For example, many parents do not wish their children to inherit all of their money as soon as they turn 18. A testamentary trust can dictate that inheritance be used for education, or becomes accessible only after age 25, for example.
  • Special needs trust. This is an increasingly popular type of trust that preserves federal benefits for people with special needs while still allowing them to use funds to improve their quality of life.

Other types of trusts exist, so please contact our firm at 513-924-4014 to learn about your options and what type of trust is right for you.