Seattle Estate Planning Attorneys
Helping Clients Create Testamentary Trusts
Testamentary trusts include any trust that is created in relation to a last will and testament. They are often used to conserve or transfer wealth and become active at the time of death. At Satterberg, Healy & Eeckhoudt, in Seattle, Washington, we have extensive experience helping people draft testamentary trusts as part of a comprehensive estate plan.
What are the benefits of a testamentary trust?
Almost any type of trust can be considered a testamentary trust as long as it is part of a will and conforms to statutory requirements. Our attorneys have helped people establish revocable living trusts as well as irrevocable living trusts. Each of these types of trusts has advantages and drawbacks. Some of the key advantages of testamentary trusts include:
- You can alter testamentary trusts by changing a will
- You can retain control over assets by placing limiting provisions in the will
- You can gain significant control in developing strategies to minimize estate taxes
Since a last will and testament can be amended or revoked at any time prior to death, a testamentary trust can be altered by simply amending an existing will or drafting a new will. Our lawyers are dedicated to helping people understand testamentary trusts and how they can benefit them.
Testamentary trusts for minors and adults with disabilities
Guardianships can be established as part of a will, as can trusts that provide for the needs of minor children and adults with disabilities. Special needs trusts are commonly used to provide for the ongoing financial needs of adults with disabilities, while allowing them to remain eligible for social services. In addition, testamentary trusts can include a wide range of provisions to cover the welfare and educational needs of children.
For a free initial consultation with a Seattle attorney experienced at developing testamentary trusts, call Satterberg, Healy & Eeckhoudt at (206) 763-1510 or contact us online.