ABA Family Legal Guide

Estate Planning

Trusts and Living Trusts

Setting Up and Maintaining a Trust

How do I choose a lawyer to help me set up a trust?

First, make sure the lawyer you select has expertise in trust and estate law in your state and is willing to work with you to tailor the trust to your particular needs; otherwise, the primary benefit of a trust—its flexibility—might be lost. A knowledgeable lawyer will provide you with the financial expertise necessary to ensure that the trust property is preserved and, where possible, is invested wisely to ensure that the assets placed in trust actually grow in value.

Second, because trusts have tax consequences and are scrutinized closely by the IRS, choose a lawyer who understands the interplay between various types of trusts and their tax obligations.