Drafting a Trust In Kansas City, Missouri

Find the right Drafting a Trust attorney in Kansas City, MO

A trust in Kansas City, Missouri is an arrangement under which property is possessed by one person, but used exclusively for the benefit of, and legally owned by, another.

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

If you want to set up a trust, you can make the beneficiary's use of the property as restricted or as permissive as you like. As a simple example, you might want to dictate that the beneficiary can only use the money for emergencies, or for basic living expenses. If the trust is carefully drafted, this is totally feasible.

The trust can also be set up to allow 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 Kansas City, MO Trust

There are 4 distinct elements that must be present for any trust to be valid in Kansas City, Missouri. The first element is the purpose - in drafting a trust document, the purpose that the trust is serving must be articulated.

Second, every trust, to be valid, has to assign a trustee. This is the individual or other entity (such as a corporation) who oversees the property that embodies the trust. They possess and control the property, and are responsible for seeing that it is used according to the purpose of the trust.

The third element is a beneficiary. The beneficiary is a person or entity who the trust is designed to benefit. Although a beneficiary has to be named, they don't actually have to exist at the time the trust is written. For instance, if a person sets up a trust to benefit his or her grandchildren, and doesn't yet have any, the trust is valid. If and when their grandchildren are born, the rights that the trust creates will vest in them immediately.

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.

Can A Kansas City, Missouri 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 complex. Therefore, it is advisable to contact a good Kansas City, Missouri attorney to help you set up a trust.

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

Life in Kansas City

Kansas City, Missouri is probably best known for its barbeque and Civil War history. "Kansas Citians" enjoy access to some of the best museums around. The Irish Museum and Cultural Center, the Nelson-Atkins Art Museum, the Liberty and World War I Memorial, and the American Jazz Museum are all located within Kansas City limits. A number of outstanding examples of Art Deco style and Frank Lloyd Wright architecture can be found throughout the city. The Power and Light Building and Community Christian Church are just two examples.

Kansas City is passionate about food. Kansas City barbeque is best known for its molasses which gives a sweeter taste. Gates and Sons Bar-B-Q was opened in 1946 and serves as the standard in original Kansas City style barbeque. Most people know Kansas City as "KC" like Rich Davis' sauce sensation: KC Masterpiece. The Sprint Center opened in 2007 and hosts Kansas City Chiefs football and Royals major league baseball games. You may not be aware that Kansas City has over 200 fountains. Second most in the entire world after Rome, Italy. Country Club Plaza is designed to look like Seville, Spain and was the first to offer accommodations for people arriving by automobile. "The Plaza" was constructed in 1922 and today is known best for it's colored light display and upscale shopping.

Clients Rate LegalMatch Attorneys
(click to read reviews)

Regel B.
Regel B.

Wills, Trusts and Estates

Caldwell, LA

Brad M.
Brad M.

Wills, Trusts and Estates

Sussex, NJ

David L.
David L.

Wills, Trusts and Estates

Ashland, OH

Gotham Light