Colorado and Wyoming Attorneys
A Trust is a documentary instrument where an individual designates another trusted individual or institution, to be the nominal owner of property held by that trusted person/institution (“Trustee”), for the benefit of one or more other persons. One of several types of “Trusts” will provide alternate methods of directing one’s assets to others, before and after his/her death. Our firm offers consultation, advice, and production of trust documents to create a “trustee” relationship and to build the operation of that Trustee’s fiduciary activities for the benefit of beneficiaries.
Trusts are often used to provide for minor children in the unlikely event of their parent’s deaths. Trusts are also created to provide for the care and upkeep of incapacitated persons, for living descendants of the trust creator (“Grantor”), all designed to begin trust operation at the Grantor’s death. Similarly, Trusts can be created by living persons for their own benefit while living, or for the immediate or delayed benefit of the Grantor’s other designees. Trusts are often used in asset management as a way to avoid loss in future liability situations, and/or where the beneficiary is not willing or able to manage his/her own assets after gifting from the Grantor. Other specific situations exist where a Trust of some kind can meet the client’s needs.
In our firm’s opinion, Trust creation should never be satisfied by forms purchased from an off-site provider. Trust creation is personal to the person, the person’s needs, the applicable state law, significant tax consequences and must be specific to the property tendered into the Trust, and to the trustee’s duties and rights. We strongly urge you to seek legal counsel for any Trust creation discussion.