Drafting a Trust In Brick, New Jersey

Find the right Drafting a Trust attorney in Brick, NJ

A trust in Brick, New Jersey is an arrangement under which property is possessed by one person, but used always for the benefit of, and legally owned by, another.

A trust can be set up for just about any reason. One of the most common reasons is to ensure that a person always 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 allows the beneficiary to access a limited portion of the money per week, or per month.

Regardless of the purpose for which you're creating a trust, you can be sure that the beneficiary will only be able to spend the trust fund in ways you approve of. This is because a trust document, at the time of drafting, can place any restrictions or allowances you want on the beneficiary's use of the money. So, if you want them to only be able to spend it on education, for instance, you can do that.

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, particularly if the beneficiary is a teenager or young adult.

What to Include in Any Brick, NJ Trust

To implement a trust in Brick, New Jersey, 4 things are required. The first is purpose - the trust must be set up to serve some sort of objective, and it must be precisely stated in the document that creates the trust.

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 accountable for seeing that it is utilized according to the purpose of the trust.

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

Fourth and finally, there must be some money or property which is actually going to be held in the trust. This property is referred to as the "corpus" (body) of the trust, and can be just about anything. But, it must actually exist, and it must be identified.

Can A Brick, New Jersey 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 difficult. Therefore, you should probably seek the advice of a Brick, New Jersey attorney if you wish to set up a trust.

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

Life in Brick

Brick, also known as "Brick Township," is located in Ocean County, New Jersey. Per the 2010 census, 75,072 people call Brick home. Brick is surrounded by the Barnegat Peninsula, Lakewood Township and Toms River Township. In 2006 Brick was named "America's Safest City" in a survey of over 371 cities nationwide. Another reason why Brick is known is due to the autism epidemic. A study was conducted in Brick in which forty out of six thousand children were found to be autistic.

Brick is home to attorneys who practice in various areas of law. Their vast practice and sharp skills allow these attorneys to cater to the legal needs of residents and local businesses.

Some famous people who have called Brick home include Harry Bernstein, Jim Dowd, Kirsten Dunst, Garrett Graham, Jack Martin, Travis Spader, and Warren Wolf.

Brick, overall, offers its residents a small-town charm and a safe place to call home.

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