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Kona and Kamuela Trusts
Hawaii Attorneys Creating Trusts to Serve Your Estate Planning Needs
When it comes to estate planning, everyone has different needs and different goals. In many cases, a simple will can’t meet what you’re trying to accomplish. Trusts are a popular alternative because can provide for greater flexibility, creativity, and efficiency when it comes to distributing your assets, while also reducing the costs of administering your estate.
The trust attorneys at Olson & Sons have extensive experience in creating and administering trusts for our estate planning clients. If you would like to talk to one of our trust attorneys about how we can help you, call us at 808-331-3113 for our Kona (Kealakekua) office or 808-885-8533 for our Kamuela (Waimea).
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Different Types of Trusts to Meet Your Needs
There are a variety of different trusts that you can be created to meet your estate planning goals. The two main types of trusts are revocable and irrevocable. A revocable trust offers the greatest flexibility in that it can be modified or even terminated at any time during your life. An irrevocable trust cannot be modified or terminated but can provide greater protection for sensitive assets. There are other types of less common trusts, and an experienced trust attorney can help you decide which trust is right for you.
Trusts Help You Avoid Probate
When you create a trust, you appoint a trustee who is authorized to undertake certain actions at certain times. When you die, the estate is then administered by the trustee according to the instructions in the trust documents. You do not need to file anything with a court or attend any hearings. The process is simple, efficient, and inexpensive as compared to the time-consuming and costly probate process that you will be forced to go through with a will.
Trusts Offer Greater Privacy
Because you do not have to go through the probate process, trusts are not a matter of public record. As a result, trusts can provide a certain amount of privacy for your estate that wills cannot.
Trusts Can Protect Your Assets in the Event of Mental or Physical Disability
A will becomes operative only upon your death. A trust, on the other hand, can direct the trustee to take control of your estate in the event that you become mentally or physically incapacitated. As a result, trusts are a good way to guard against your estate being wasted before it can be distributed to your family members and loved ones according to your wishes.
Contact a Kona or Kamuela Trusts Attorney
The trust attorneys at Olson & Sons work with people across Hawaii to meet their estate planning needs. We take the time to understand your goals in order to develop the best possible estate plan for you and your family. If you’d like to discuss how a trust could help you, call one of our attorneys at 808-331-3113 for our Kona (Kealakekua) office or 808-885-8533 for our Kamuela (Waimea).