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A Family Trust Lawyer Can Help Streamline Inheritance

Estate planning is about more than just a last will and testament. Many Arizona residents might not realize they have the power to customize their plans through a variety of options, with one of the most powerful being a trust. Don’t just picture wealthy businesses with board members discussing how to protect assets using convoluted legal documents — a family trust lawyer does exactly what the name suggests by creating a trust for regular families who simply want to protect what they value so they can pass it on. Trusts allow your heirs to receive their inheritance faster, more efficiently, and with more specificity than a simple will, and can be used in conjunction with other estate planning documents for a comprehensive, customized plan for after your passing.

So what is a trust? While there are a variety of trust options, at the most basic level, this document allows certain assets to be held “in trust” and then passed on to a named beneficiary. That means any property, funds, possessions, and other assets held in the trust avoid getting tangled up in probate proceedings.

What Are Some of the Asset Protection Options for Beneficiaries?

From Kaylee’s interview for the Masters series on ReelLawyers.com

Trusts provide a lot of flexibility. They allow us to preserve assets for your beneficiaries in a variety of ways. The future is uncertain, and we don’t always know what life circumstances your beneficiaries may face. But with the right tools, we can put provisions in place to address potential concerns.

For example, if you’re worried about a beneficiary squandering their inheritance, we can add protections to preserve those assets for their benefit. If a beneficiary is receiving government assistance—or may need it later in life—we can include provisions in the trust that allow them to continue receiving those benefits while still having the inheritance available to supplement their needs. The funds can be preserved and used in ways that enhance their quality of life without jeopardizing their eligibility for assistance.

We can also build in protections for unforeseen circumstances. If a beneficiary faces lawsuits, has creditors, or goes through a divorce, the assets held in trust can be safeguarded. As long as the inheritance remains in the trust and is structured properly, it can be protected from creditors and other potential risks.

Give You More Control

Trusts are an attractive option for families hoping to pass on property or possessions without being subjected to probate. When properly executed by a family trust lawyer, the assets within the trust can be swiftly transferred to beneficiaries when the initial grantors die. Unlike probate, the courts aren’t involved and all information is kept private.

However, there are additional benefits to establishing a trust. Because of the variety of trust options, you can set aside gifts for your chosen charities, dedicate funds for specific uses such as for your children’s education, and dictate how and when the assets will be distributed. This is where we get the idea of a “trust fund kid”; certain trusts provide funds for children but with limits on how much they receive or the age when the funds become available. The trust can also include several contingency plans, should chosen successor trustees or beneficiaries predecease the initial trustee.

Why Is It Important to Fund a Trust in Alignment With an Estate Plan?

From Kaylee’s interview for the Masters series on ReelLawyers.com

Funding a trust in alignment with your estate plan is essential to take full advantage of all the benefits a trust has to offer. Many clients come to us wanting a trust set up to make the administration of their estate easier for their loved ones, and to ensure they’re provided for if something happens and they’re no longer able to care for themselves or manage their own finances.

If you think of a trust as a bucket, an empty bucket isn’t very helpful. If you pass along an empty bucket to your successors, they’ll have to go out and gather each asset individually to place into it. But if you do the work during your lifetime to put all of your assets into that bucket, it becomes much more seamless for your successors to step into your shoes. They’ll be able to manage your resources either for your benefit, if you’re incapacitated, or for your loved ones after your death.

It’s really important to make sure everything is properly funded into the trust. Anything left outside of the trust won’t be controlled by it unless your successors go through the court process—commonly known as probate—to get that asset titled in the name of the trust. While there’s still a way for the trust to control the ultimate distribution of those assets, it requires more time, effort, and resources to get there. That’s why it’s much more efficient to retitle your assets during your lifetime.

How is a Trust Established?

The person who creates the trust is the grantor, transferring the assets into the trust and giving power over the trust to the trustee. Usually, the grantor is also the initial trustee, allowing that person to retain control of their assets while alive. Once the initial trustee or trustees die, power over the trust passes immediately to the successor trustees named in the document. Successor trustees then follow the directions in the trust to honor the wishes of the deceased, usually by disbursing the assets in the trust to the named beneficiaries. A trust administration lawyer can assist in the distribution process.

There are several kinds of trusts available to Arizona families, which is both a blessing and a potential cause for choice overload. Luckily, the family trust lawyers at Dyer Bregman Ferris Wong & Carter, PLLC can give your case personalized attention to determine which trust is right for your situation. Our estate planning attorneys can also customize your other documents to work together with the trust, covering all your bases in the event of your death or incapacity.

The broadest trust categories to keep in mind are revocable and irrevocable trusts.

Revocable Trusts

Also called a “living trust”, revocable trusts are among the most flexible trust options because they can be changed. As long as the initial grantor is alive, assets can be added or removed from the trust, allowing the document to better reflect the changes that inevitably occur as life goes on. Revocable trusts can hold real estate, bank accounts, investments, bonds, and personal possessions like antiques, family heirlooms, valuable jewelry, etc.

In addition to swapping out assets within the trust, a living trust also allows grantors to change successors and beneficiaries. Best of all, grantors can still use and access the assets held in trust for their lifetime. It is only when all initial trustees pass on that the trust becomes irrevocable.

What Is an Individual Retirement Trust?

From Mark’s interview for the Masters series on ReelLawyers.com

An Individual Retirement Trust is a relatively new tool available to estate planners. Instead of leaving your IRA money with the custodian and having your beneficiaries figure out how to handle it—often relying solely on the advice of a financial advisor—an Individual Retirement Trust ensures that the funds are allocated exactly as you intend.

As of 2025, this is a newer concept, but it’s one of the best ways to address situations where you want your surviving spouse to have access to the required minimum distributions, while ensuring that whatever remains eventually goes to your children. It’s also an excellent solution if one of your beneficiaries is a minor or, in your opinion, not able to manage their own affairs.

Think of it as a protective wrapper you can place around your IRA. It essentially turns it into a trustee-managed IRA, which is a different approach from how we’ve traditionally handled these accounts over the past 30 years. It’s a powerful tool, and if you fit the profile I’ve described, it’s definitely something worth learning more about.

Irrevocable Trusts

As the name suggests, these trusts cannot easily be changed once put into action unless you’re attorney has provided the flexibility for changes to be made . Generally, property and assets held in the trust remain there, inaccessible until the terms of the trust are met. The grantors cannot remove assets, change successors or beneficiaries, or make use of the assets held in trust. Revocable trusts turn into irrevocable ones upon the death of the initial grantors

Irrevocable trusts sound intractable, but that’s the point. They’re often used to limit access to these assets until, a child reaches adulthood and can make responsible use of them and for a variety of income and estate tax purposes.

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We Ensure Your Trust Reflects Your Needs

The point of a trust is to give you more control over your estate. By establishing a revocable living trust, irrevocable trust, or a variation, we’ll safeguard your intentions and property so they go exactly where you want after your death. Our family trust lawyers at Dyer, Bregman & Ferris are committed to using our acumen, experience, and passion to spare you unnecessary legal wrangling and administrative costs. Set up an appointment today: (602) 254-6008

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