Drafting a Trust In Brent, Alabama

Find the Right Lawyer Now

In Brent, Alabama, 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 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.

If you are a trustee, you can permit 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 extremely difficult) to spend it on things you don't approve of.

The trust can also be set up to permit 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 Brent, AL Trust

There are 4 things that have to be present in every trust for it to be valid in Brent, Alabama. 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, there must be a trustee. This is the person who will administer the trust, and retain possession of the property or money that it contains, as well as being responsible for using it to effectuate the trust's purpose.

The third required element to make a valid trust is the beneficiary or beneficiaries. Because a trust, by definition, is set up to benefit someone or something, that entity must be identified in the trust. However, if the person(s) meant to benefit from the trust do not yet exist, they can still be valid beneficiaries, as long as they are part of an identifiable class of people, and can be easily identified if they are born. For example, you could set up a trust to benefit your grandchildren, even if you don't truly have any grandchildren yet.

Fourth and finally, the trust must include what is known as the "corpus" or "body." The corpus is the money and/or property which is being held in trust. For a trust to be valid, the corpus must be clearly identified.

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

Can A Brent, Alabama 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 intricate. For that reason, seeking the counsel of a knowledgeable Brent, Alabama attorney to help you set up a trust is probably a good idea.

Drafting a Trust Attorneys in the Largest AL Cities

Show Alabama Cities

Drafting a Trust Lawyers in Other Alabama 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 Ayn T.

Ayn T.

Shelby, AL

Wills, Trusts and Estates

Rating (1 users) *****
See Reviews
Family Law Lawyer
LegalMatch Family Law Lawyer Scott J.

Scott J.

Bibb, AL

Family Law

Rating (4 users) *****
See Reviews
Wills, Trusts and Estates Lawyer
LegalMatch Wills, Trusts and Estates Lawyer John (J.D.) H.

John (J.D.) H.

Mobile, AL

Wills, Trusts and Estates

Rating (1 users) **
See Reviews
Employment and Labor Law Lawyer
LegalMatch Employment and Labor Law Lawyer Ryan S.

Ryan S.

Kane, IL

Employment and Labor Law

Rating (5 users) *****
See Reviews

Need a Lawyer?

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