Drafting a Trust In Pinetop Lakeside, Arizona

Find the Right Lawyer Now

In Pinetop Lakeside, Arizona, a trust is an arrangement in which property is held by one person (the trustee) for the benefit of another (the beneficiary).

A trust can be set up for just about any reason. One of the most frequent reasons is to ensure that a person consistently 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 authorizes the beneficiary to access a limited portion of the money per week, or per month.

Regardless of the purpose for which you're establishing 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. Therefore, if you want them to only be able to spend it on education, for example, you can do that.

The trust can also be set up to authorize the beneficiary to spend as much of the money in it on anything they like. Of course, few people do this, because the trust isn't likely to last very long under such an arrangement, especially if the beneficiary is a teenager or young adult.

What to Include in Any Pinetop Lakeside, AZ Trust

There are 4 distinct elements that must be present for any trust to be valid in Pinetop Lakeside, Arizona. The first element is the purpose - in drafting a trust document, the purpose that the trust is serving must be stated.

The second required element is a trustee. The trustee's job is to supervise and manage the money that makes up the trust. They are also required to take reasonable efforts to ensure that the money is only used for the purpose of the original trust agreement.

Third, the trust needs to have a named beneficiary. The beneficiary is the person who benefits from the trust.

Fourth and finally, there must be some money or property which is really going to be held in the trust. This property is referred to as the "corpus" (body) of the trust, and can be just about anything. However, it must really exist, and it must be identified.

Find a Pinetop Lakeside Lawyer that Specializes in Your Area of Need:

Can A Pinetop Lakeside, Arizona Trust Drafting Attorney Help?

While it's fairly easy to list off the basic requirements for a valid trust, actually creating and implementing one can be fairly confusing. Therefore, you should probably seek the help of a Pinetop Lakeside, Arizona attorney if you wish to set up a trust.

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.

Family Law Lawyer
LegalMatch Family Law Lawyer Kristopher G.

Kristopher G.

SUMMIT, UT

Family Law

Rating (1 users) ****
See Reviews
Employment and Labor Law Lawyer
LegalMatch Employment and Labor Law Lawyer Gary P.

Gary P.

GADSDEN, FL

Employment and Labor Law

Rating (2 users) ***
See Reviews
Family Law Lawyer
LegalMatch Family Law Lawyer Lois V.

Lois V.

WASHINGTON, PA

Family Law

Rating (1 users) *****
See Reviews
Criminal Law Lawyer
LegalMatch Criminal Law Lawyer Andres C.

Andres C.

SAN DIEGO, CA

Criminal Law

Rating (12 users) *****
See Reviews

Need a Lawyer?

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