Trusts

Nashua Trusts Attorney

Helping Families in New Hampshire

At Bernazzani Law, we understand that planning for the future can be a daunting task. Our team is here to help you navigate the process and ensure that your assets are protected. We can help you create a trust that meets your unique needs and goals.

Our firm can help you with the following types of trusts:

Revocable Trusts
Irrevocable Trusts
Charitable Trusts
Special Needs Trusts
Medicaid Trusts
Children's Trusts
Asset Protection Trusts
Living Trusts
Testamentary Trusts

Call (603) 261-2214 or contact us online to schedule a consultation with our trusts lawyer in Nashua, NH.

What Is a Trust?

A trust is a legal arrangement that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries. Trusts can be used to manage and distribute assets in a variety of ways. They can be created during a person's lifetime or after their death.

Trusts can be used to manage the distribution of assets to beneficiaries, minimize estate taxes, and avoid probate. They can also be used to protect assets from creditors and lawsuits. There are many different types of trusts, each with its own unique benefits and purposes.

What Is the Purpose of a Trust?

Trusts can be used to manage and distribute assets in a variety of ways. They can be created during a person's lifetime or after their death. Trusts can be used to manage the distribution of assets to beneficiaries, minimize estate taxes, and avoid probate. They can also be used to protect assets from creditors and lawsuits. There are many different types of trusts, each with its own unique benefits and purposes.

What Are the Benefits of a Trust?

There are many benefits to creating a trust. One of the main benefits is that a trust can be used to avoid probate. Probate is the legal process of administering a person's estate after their death. It can be a lengthy and expensive process. Assets that are held in a trust do not have to go through probate. Instead, they can be distributed to the beneficiaries immediately after the person's death.

Another benefit of a trust is that it can be used to minimize estate taxes. Estate taxes are taxes that are imposed on the transfer of a person's assets after their death. The federal estate tax rate is 40%. A trust can be used to minimize or eliminate estate taxes by removing the assets from the person's estate.

Trusts can also be used to protect assets from creditors and lawsuits. Assets that are held in a trust are not considered to be owned by the person who created the trust. As a result, they are not subject to the person's creditors or lawsuits. This can be especially beneficial if you are concerned about being sued or if you have a high-risk profession.

Do You Need to Update Your Trust Regularly?

Updating a trust is an essential part of maintaining an effective estate plan. A trust that reflects current life circumstances ensures that your wishes are followed correctly, minimizing potential complications for your beneficiaries. Changes in life, law, or assets may require an update to your trust to keep it relevant and legally sound.

Major life events, such as marriage, divorce, the birth of a child, or the passing of a beneficiary or trustee, should prompt a review of your trust. Each of these changes can affect how assets are distributed or who will be responsible for managing your trust after you pass away. Failing to update a trust during significant life changes can result in unintended consequences, such as excluding new family members or leaving assets to individuals you no longer wish to benefit.

Changes in the law can also impact your trust. Federal and state tax laws, for example, may alter how trusts are taxed, which could influence decisions regarding asset distribution. An experienced attorney can help ensure your trust remains compliant with any new laws.

Additionally, significant changes in assets should lead to a trust update. If new property or financial resources have been acquired since the creation of your trust, those assets should be included. Otherwise, they may go through probate, undermining one of the primary purposes of having a trust.

To keep your trust in optimal condition, it is advisable to review and possibly update it every few years or whenever major life changes occur. This proactive approach helps protect your legacy and ensures your intentions are carried out effectively. Consulting a trusts attorney in Nashua can provide valuable guidance in making necessary adjustments.

What Is the Difference Between a Will and a Trust?

Both wills and trusts are estate planning documents that can be used to manage and distribute assets. However, there are some key differences between the two.

A will is a legal document that allows you to specify how you want your assets to be distributed after your death. It can also be used to name a guardian for your minor children. A will must go through probate, which is the legal process of administering a person's estate after their death. Probate can be a lengthy and expensive process. A will does not go into effect until after the person's death.

A trust is a legal arrangement that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries. A trust can be used to manage and distribute assets during a person's lifetime or after their death. Assets that are held in a trust do not have to go through probate. Instead, they can be distributed to the beneficiaries immediately after the person's death. A trust can also be used to minimize estate taxes and protect assets from creditors and lawsuits.

Call (603) 261-2214 or contact us online to schedule a consultation with our trusts lawyer in Nashua, NH.

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What Sets Us Apart From The Rest?

Bernazzani Law is here to help you get the results you need with a team you can trust.

Reasonability
Some attorneys portray themselves as bulldogs. However, being overly aggressive is not always effective. When a fight is necessary, we fight. But when it is clear that a negotiated or mediated solution can yield better results — and the client wants this — we do not hesitate to follow the more fruitful path.
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This is another way of saying "we've got your back." Retain our firm, and we will advocate for you in the strongest possible manner. We are dedicated to helping you and your family.
Flexibility
Our training and experience as mediators, negotiators and litigators give us a full suite of options to bring to your legal problem. Whether a court fight or a mutually agreeable solution is in your best interest, we are flexible enough to serve you. We make ourselves available by email, phone and through our helpful and competent staff.
Empathy
We listen to our clients, and we relate to their problems — always providing clients, and their concerns, the time and attention required. We believe that understanding our clients is vital to helping them resolve those problems.