Drafting a Trust In Fort Wayne, Indiana

Find the right Drafting a Trust attorney in Fort Wayne, IN

A trust in Fort Wayne, Indiana is a legal arrangement for the management of property by one person, for the benefit of another. In the simplest possible terms, if property is held in trust, it is possessed and controlled by one person, but it is technically owned by another person, who benefits from the property.

Trusts serve a number of purposes. For example, they can be set up to ensure that the beneficiary (say, a child) will consistently have enough money to live off of, but will be unable to spend it all on frivolities.

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 authorizes the beneficiary to spend the money on educational expenses, and nothing else.

A trust could, of course, be much more permissive, if the creator of the trust wants it to be. You could set up a trust permitting the beneficiary to spend as much of the money in it as they like, on anything. Of course, in such a situation, the trust fund might not last very long, especially if the beneficiary is a younger person.

What to Include in Any Fort Wayne, IN Trust

To establish a trust in Fort Wayne, Indiana, 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 must also name a trustee. The trustee is the person who is really going to administer the trust, and has possession and control of the property while it is the subject of the trust.

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

Can A Fort Wayne, Indiana Trust Drafting Attorney Help?

While the elements of a valid trust are relatively simple and easy to remember, drafting a trust that is sure to be carried out according to the wishes of the person making it can still be complex. For that reason, a good Fort Wayne, Indiana attorney specializing in estate planning and the drafting trusts may prove invaluable.

Talk to a Wills, Trusts and Estates Law Attorney now!

Life in Fort Wayne

Fort Wayne, Indiana gives visitors the small-town feel that makes Indiana so great. Along with the small town community-feel, Fort Wayne has a lot of things for visitors to do.

For the nature lovers, they can visit Foellinger-Freimann Botanical Conservatory, which is famous for the display of beautiful plants, shopping, and family outings. Another site great for family outings is the Fort Wayne Children's Zoo, which includes great restaurants and cafes and wonderful exhibits of animals!

Sports lovers will have their sports-loving needs catered to with the Fort Wayne TinCaps Baseball Stadium and Parkview Field. The nature lovers have Rivergreenway Trail, and Headwaters Park.

Other popular attractions include Hoosier Park Racing Casino for the adventurous risk-takers, Fort Wayne Civic Theatre for those who love shows, and Veterans Memorial National Shrine, which holds over 5,000 artifacts from the Civil War for all the visitors who are history-buffs.

Fort Wayne is also filled with many small to medium sized law firms who practice in all areas of law. Thus, Fort Wayne citizens do not have to travel far to receive personalized and effective legal representation.

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