Using Trusts To Protect Your Assets and Your Loved Ones

A trust is a popular estate planning technique and can be effectively used to avoid probate, reduce estate taxes, protect assets from creditors, ensure proper investment and management of assets, and in some circumstances reduce income taxes.  

At Laffey, Sebranek, Auby & Ristau, S.C. we have been helping individuals and families in Wisconsin protect what matters most for more than 50 years. You can rely on us for forward-looking advice and creative solutions for achieving your estate planning goals.

Types of Trusts

Our attorneys will closely examine your circumstances and take the time to understand your estate planning goals. Those goals will build the foundation of our recommendations on whether you need a trust, and if so, what type of trust will work best for you and your family. Commonly implemented trusts include:

  • Testamentary trusts: A trust created through a will or other testamentary document which controls the management and distribution of your assets after your death. Testamentary trusts are frequently used to provide for the management of assets for minor children if they are set to inherit property under a will.

  • Revocable (“living”) trusts: A trust which names someone to manage and administer property for your benefit while you are alive. Revocable trusts are primarily used to avoid probate. They can also be employed to manage your property in the event you become ill or disabled, and provide for your minor children in the event of your death.  A revocable trust can be revoked at any point so long as you remain competent to do so.

  • Irrevocable trusts: A trust created during your lifetime which cannot be revoked or altered by you at any time for any reason. Irrevocable trusts are commonly used to minimize the possibility of federal estate taxes.

  • Charitable trusts: An irrevocable trust created for charitable purposes. In certain circumstances, a charitable trust can be created to minimize income and estate taxes, as donations to the charitable trust may be deductible to an individual taxpayer.

Hands connected in trust

Once your trust has been created, it is imperative that your assets are properly connected to your trust.  Our attorneys will assist you throughout this process. We also frequently assist trustees with their fiduciary and administrative duties to trust beneficiaries.

Let Us Guide You To The Right Trust For Your Situation

We look forward to helping you create a trust that meets your estate planning and asset protection goals. Contact Us Today to schedule a consultation. From our offices in Sun Prairie and Madison, we represent individuals and families throughout Wisconsin.