Winkler Legal Services, LLC
[ State of Ohio ]

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Dirken D. Winkler

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Probate & Estate Planning

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Winkler Legal Services, LLC
Attorney at Law
35 East Livingston Avenue
Columbus, OH 43215

  (614) 461-5708
  (614) 444-5188

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Ohio Trust Attorney
Winkler Legal Services, LLC


A Trust is a contract which provides for a person or entity (the “Trustee”) to manage property for the benefit of another person (the “Beneficiary”) according to the terms and conditions set forth in the trust.

The person (or persons) creating the trust is called the “Grantor”. The Grantor appoints the “Trustee” and designates the “beneficiaries” of the trust. Often, the Grantor is also the beneficiary of the trust during her lifetime. There are two types of trusts; a “living trust” and a “testamentary trust”. A living trust is created during one’s lifetime, whereas, a testamentary trust is created by a will when a person dies.

Living Trust:

A living trust can be “revocable” or “irrevocable”. A revocable trust can be changed, modified, amended and terminated at any time while the Grantor is living. An irrevocable trust cannot be changed once it is established.

Revocable Trusts: The Grantor maintains complete control over the assets and trust during his or her lifetime. Although, assets are transferred to a revocable trust all taxes and income generated by the trust flow-through to the Grantor directly. A revocable trust is very flexible and useful in planning the disbursement of one’s estate.

Irrevocable Trusts: The Grantor has very little control over changing the terms and conditions of the trust and is unable to remove assets from the irrevocable trust. Irrevocable trusts are less common than revocable trusts; however, there are tax advantages and asset protection uses with an irrevocable trust.

Regardless of whether you have a living revocable or irrevocable trust, it is necessary to fund your living trust with assets while you are living. That way, upon your passing the trust holds all of your assets thereby decreasing or eliminating the assets that must be marshalled through the probate court process. It comes down to organizing and arranging your affairs in such a way that allows your loved ones the time and space to grieve by reducing the stress of having to gather all of your assets when you pass.

Testamentary Trust:

A testamentary trust is created by your will and it comes into existence only when you pass away. Testamentary trusts are irrevocable and are subject to the continuing jurisdiction of the Probate Court. Because of the Probate Court has continuing jurisdiction the trust’s terms and conditions, and administration are open to the public. Furthermore, the trust is subject to various filing requirements with the probate court. As a result, testamentary trusts are usually more expensive to administer than living trusts and are subject to a variety of Probate Court filing requirements. However, a testamentary trust is prefer supervision of your trust by the Probate Court.

Benefits to Using a Revocable Living Trust:

The benefits of a trust includes the ease of administering assets at death; the avoidance of probate costs, avoidance of delays and loss of privacy; the elimination or minimization of estate taxes; the flexibility to modify trust terms and conditions during grantor’s lifetime; and the ability to distribute assets to beneficiaries according to the grantor’s wishes.

A trust is an excellent way to leave assets to control the distribution of assets to minor or disabled beneficiaries, or beneficiaries with substance abuse history or debt issues. Also, trusts are invaluable for those who want to provide for a current spouse, while preserving assets for children from a prior marriage. Because a trust can be tailored to address a variety of life circumstances, contingency planning for changing family relationships is achievable. The terms of a revocable trust can be amended when needed during the grantor’s lifetime.

Should you have any questions regarding whether a trust is right for you, please do not hesitate to contact Winkler Legal Services, LLC to learn the many ways a trust can best serve your particular circumstances.

You do not hire a law firm; you hire me, an experienced Columbus, Ohio Probate and Estate Planning & Divorce and Family Law lawyer you can count on to be there when you need.

An experienced Columbus, Ohio Probate and Estate Planning & Divorce and Family Law, Lawyer

Meet with your lawyer when and where you can.

If you would like to speak with me regarding probate administration, estate planning, trusts, wills, power of attorney, living will, divorce, dissolution, child custody, child support, establishing parental rights, legal separation, spousal support, grandparent / companionship rights, stepparent adoptions and annulment of marriages, please e-mail or call (614) 461-5708 for a FREE initial telephone consultation.

Columbus, Ohio, Probate and Estate Planning & Family Law Lawyer
Dirken D. Winkler

- serving clients in Central Ohio, including Delaware, Fairfield, Franklin, Licking, Madison, Pickaway, and Union counties and the cities of Bexley, Canal Winchester, Columbus, Dublin, Gahanna, Grandview Heights, Grove City, Groveport, Hilliard, New Albany, Pickerington, Reynoldsburg, Upper Arlington, Westerville, Whitehall, and Worthington. Give me a call at (614) 461-5708. I look forward to representing you.

Columbus, Ohio, Family Law Attorney Winkler Legal Services, LLC

/ Page updated Thursday, September 1, 2016 /

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