Drafting a Trust In Lincoln, Nebraska

Find the right Drafting a Trust attorney in Lincoln, NE

A trust in Lincoln, Nebraska is an arrangement under which property is possessed by one person, but used entirely for the benefit of, and legally owned by, another.

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.

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 authorizing 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 Lincoln, NE Trust

To establish a trust in Lincoln, Nebraska, 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, there must be a named beneficiary. This is the person, persons, or entity who is truly benefiting from the trust. This person or entity must be clearly identified, or must be identifiable at some point in the future that can be objectively defined.

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 Lincoln, Nebraska 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 perplexing. Therefore, you should probably seek the help of a Lincoln, Nebraska attorney if you wish to set up a trust.

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

Life in Lincoln

Lincoln is Nebraska's state capitol-a place filled with something to do for everyone! Lincoln has a large recreation center, great shopping malls, a huge golf course, and several playgrounds for children!

Moreover, Lincoln is home to many wonderful attractions filled with natural and historical beauty. Starting off, the State Capitol Building is described as the nation's first vernacular State Capitol. The building stands 400 feet tall, has four interior court yards, and an observation deck.

Many tours are offered daily, and last approximately thirty minutes.

For those who want to see even more history, the Historic Haymarket is a very popular Lincoln attraction. It has unique galleries, shops, and restaurants. The Historic Haymarket is the social hub of Lincoln, where people can go to socialize, relax, and just have a good time.

Alongside history, Lincoln is also rich in natural beauty. Antelope Park and The Sunken Gardens are a botanist's delight! Both have amazing rose gardens, gorgeous fountains perfect for that special Kodak moment, and breathtaking statues and sculptures.

Children especially love Lincoln because of the Lincoln Children's Zoo.

The Zoo has over 300 animals and a large botanical garden with over 400 species of plants!

The Zoo prides itself in its devotion to animal conservation and community education.

The Zoo also has a species survival program, where animal that are threatened and endangered are taken in and taken care of.

Being the capitol of Nebraska, Lincoln's legal market is full and flourishing.

Lincoln has many legal centers where legal aid is provided to those in need.

Additionally, Lincoln is filled with large, medium-sized, and small law firms in all practices of law.

Overall, the legal needs of anyone and everyone can be taken care of in Lincoln Nebraska.

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