Drafting a Trust In Phenix City, Alabama

Find the Right Lawyer Now

In Phenix City, 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.

A trust can make as many or as few allowances as the person creating it wants. For example, a trust could be set up which permits the beneficiary to spend the money on educational expenses, and nothing else.

Of course, the trust could also be set up to permit the beneficiary unfettered access to the fund, or a specific 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 Phenix City, AL Trust

To establish a trust in Phenix City, Alabama, 4 things are required. The first is purpose - the trust must be set up to serve some kind of objective, and it must be clearly stated in the document that creates the trust.

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 responsible for putting it to the use that the creator of the trust intended.

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

Finally, the trust needs to have a corpus, or body. The "body" of the trust is the property that benefits the beneficiary, and that the trustee oversees. Obviously, there can be no trust without something being held in trust.

Find a Phenix City Lawyer that Specializes in Your Area of Need:

Can A Phenix City, Alabama Trust Drafting Attorney Help?

While it's not difficult to understand the basic requirements of a trust, actually creating a trust can be a bit more confusing. Therefore, it is advisable to contact a knowledgeable Phenix City, Alabama attorney to help you set up a trust.

13 Wills, Trusts and Estates cases posted to LegalMatch lawyers in Phenix City

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
General Practice Lawyer
LegalMatch General Practice Lawyer Jesse H.

Jesse H.

Lee, AL

General Practice

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
Family Law Lawyer
LegalMatch Family Law Lawyer Tate W.

Tate W.

Cleveland, OK

Family Law

Rating (4 users) *****
See Reviews

Need a Lawyer?

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