Trust Lawyer Seattle

As the largest city in Washington, Seattle and its surrounding area represent the greatest concentration of wealth for hundreds of miles in every direction. While being wealthy is generally a pretty good problem to have, wealth does come with its own challenges, especially regarding taxes, estate planning, and children. Fortunately, Seattle also has many talented lawyers experienced in wealth management tools like trusts. Most people have probably heard of trusts, but they may not realize the broad range of different trusts that exist, and what potential benefits they might derive from them. The lawyers of Findley & Rogers are happy to answer any questions you may have regarding trusts.

Testamentary trusts may be the most common form of trusts, these allow a person to control how their money is distributed and used after they have passed away. Why bother with a trust? Why not just write a will defining where your assets will go? These are good questions, but the answer is pretty simple. A will is an effective estate planning tool in terms of defining who you want to receive your money, but on its own it will not allow you to control how that money is spent by those people, or how they will receive it.

Perhaps you have an 8 year old child that you wish to provide for incase something should ever happen to you. Would you want that child simply to receive a check if you die, and be told to spend the money as they see fit? No lawyer in Seattle would advise you to do that, especially not when a simple trust would allow you to ensure that child is cared for until they can manage the money for themselves. A testamentary trust allows you to put the money you want to give to your child aside, and name a person who will be responsible for using that money only in the ways that you want them to, for your child’s benefit, until your child reaches an age that will allow them to reasonably assume responsibility for the money.

Or perhaps you have an older child that you would like to see benefit from your money, but unfortunately is just not responsible. A trust can be established to make regular payments over the course of several years that will guarantee your child an income without giving them the opportunity to squander all of their resources.

This does not even begin to touch on the trusts that might be useful to you while you or your spouse are still alive, and I strongly recommend that you speak with one of Findley & Rogers attorneys here in Seattle so that they can give you more information about trusts and their many uses. Remember to ask about methods of minimizing your tax burden, and protecting your assets and your spouse from the wealth draining impacts that Medicare can have later in life.

Contact us today to discuss your case.

Phone: 206-331-7377

Fax: 206-486-9930