Drafting a Trust In Palmer, Alaska

Find the Right Lawyer Now

In Palmer, Alaska, a trust is an arrangement in which property is held by one individual (the trustee) for the benefit of another (the beneficiary).

A trust can be set up for just about any reason. One of the most common reasons is to ensure that a person always has enough money to avoid going broke, but not enough that they can avoid getting a job, or spend all of the money on things they don't need. This can be accomplished by drafting a trust agreement so that only allows the beneficiary to access a limited portion of the money per week, or per month.

If you are a trustee, you can allow the beneficiary to access the trust under any conditions you see fit (or make it unconditional, if you want). The point is that, if you make sure the trust agreement is well-constructed, you can help the beneficiary in any way you like, secure in the knowledge that they won't be able (or will find it very challenging) to spend it on things you don't approve of.

Of course, the trust could also be set up to allow the beneficiary unfettered access to the fund, or a certain amount of money could be released from the fund to the beneficiary each month, for the beneficiary to use as he or she sees fit.

What to Include in Any Palmer, AK Trust

To implement a legitimate trust in Palmer, Alaska, 4 elements must be present. The first element is purpose - the property being held in trust must be there for a reason. Your trust can serve just about any lawful purpose you can think of.

Second, the trust needs a trustee. The trustee will have possession of the property or money that is being held in trust, and will be accountable for putting it to the use that the creator of the trust intended.

Third, the trust further has to name a beneficiary. This is the individual or entity (such as a charitable organization) who is going to benefit from the trust.

Finally, the trust needs to actually be composed of something. A trust document must name the money or property which is actually being held in trust, which is known as the "corpus" or "body" of the trust.

Find a Palmer Lawyer that Specializes in Your Area of Need:

Can A Palmer, Alaska Trust Drafting Attorney Help?

While its' easy to list the basic elements that need to be present for a trust to be valid, the actual process of setting up a trust can be a little perplexing. For that reason, seeking the counsel of a reputable Palmer, Alaska attorney to help you set up a trust is probably a good idea.

4 Wills, Trusts and Estates cases posted to LegalMatch lawyers in Palmer

Drafting a Trust Attorneys in the Largest AK Cities

Show Alaska Cities

Drafting a Trust Lawyers in Other Alaska Cities and Towns


Find the Right Lawyer Now

Top Rated Lawyers

View attorney profiles and see how other LegalMatch users rate attorneys that may respond to your case.

Bankruptcy, Banking and Credit Lawyer
LegalMatch Bankruptcy, Banking and Credit Lawyer Roger Y.

Roger Y.

FORT BEND, TX

Bankruptcy, Banking and Credit

Rating (1 users) ****
See Reviews
Family Law Lawyer
LegalMatch Family Law Lawyer Richard P.

Richard P.

CONTRA COSTA, CA

Family Law

Rating (11 users) *****
See Reviews
Criminal Law Lawyer
LegalMatch Criminal Law Lawyer Charles L.

Charles L.

HILLSBOROUGH, FL

Criminal Law

Rating (3 users) *****
See Reviews
Family Law Lawyer
LegalMatch Family Law Lawyer David B.

David B.

SALEM, VA

Family Law

Rating (1 users) ***
See Reviews

Need a Lawyer?

No obligation - Lawyers compete for your case. Choose your issue & get started now: