Drafting a Trust In Coolidge, Arizona

Find the Right Lawyer Now

In Coolidge, Arizona, 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 prevalent reasons is to ensure that a person perpetually 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 permits the beneficiary to access a limited portion of the money per week, or per month.

Regardless of the purpose for which you're creating a trust, you can be sure that the beneficiary will only be able to spend the trust fund in ways you approve of. This is because a trust document, at the time of drafting, can place any restrictions or allowances you want on the beneficiary's use of the money. Thus, if you want them to only be able to spend it on education, for instance, you can do that.

If you want, you could implement a trust with no restrictions on how much money the trustee can spend from the trust, and let the beneficiary spend all the money on whatever they'd like. If this is what you want to do, that's fine- but if the beneficiary is a young adult with spendthrift habits, you obviously might want to take into consideration the fact that they could quickly spend all the money on some pretty frivolous stuff.

What to Include in Any Coolidge, AZ Trust

There are 4 things that have to be present in every trust for it to be legitimate in Coolidge, Arizona. First, the trust must have a stated purpose. Whatever purpose you intend the trust to serve, you should make it quite clear when drafting the document.

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, there must be a named beneficiary. This is the person, persons, or entity who is truly benefiting from the trust. This person or entity must be precisely identified, or must be identifiable at some point in the future that can be objectively defined.

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

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

Can A Coolidge, Arizona 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 confusing. For that reason, seeking the counsel of a reliable Coolidge, Arizona attorney to help you set up a trust is probably a good idea.

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

Drafting a Trust Attorneys in the Largest AZ Cities

Show Arizona Cities

Drafting a Trust Lawyers in Other Arizona 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.

Wills, Trusts and Estates Lawyer
LegalMatch Wills, Trusts and Estates Lawyer Gregory M.

Gregory M.

Maricopa SouthWest, AZ

Wills, Trusts and Estates

Rating (1 users) *****
See Reviews
Wills, Trusts and Estates Lawyer
LegalMatch Wills, Trusts and Estates Lawyer DeeAn G.

DeeAn G.

Maricopa SouthWest, AZ

Wills, Trusts and Estates

Rating (13 users) ****
See Reviews
Family Law Lawyer
LegalMatch Family Law Lawyer Lee C.

Lee C.

RIPLEY, MO

Family Law

Rating (3 users) *****
See Reviews
Criminal Law Lawyer
LegalMatch Criminal Law Lawyer Ashby S.

Ashby S.

SAN DIEGO, CA

Criminal Law

Rating (1 users) *****
See Reviews

Need a Lawyer?

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