How long does it take to create a trust?
A trust is commonly referred to as a estate plan. This document encompasses the following six parts: a trust, a will, a durable power of attorney for finance, a durable power of attorney for health care, HIPAA, and schedules. Each of these documents have different functions and work in combination with one another to offer you full protection for your assets. Different law firms take different times to create a comprehensive estate plan. Most law firms should not take more than 2-3 weeks to create the document from the time you approve the paperwork. Please make sure when you call the law firm, the attorney thoroughly explains the process to you over the phone. You do NOT need to meet with the attorney multiple times. Only one meeting is necessary. At this meeting, the trust will have been created based on the client intake form you submitted and you will be asked to sign in a variety of places in front of a notary. Sometimes, the law firm will comp your notary fees so make sure you ask if they are included. Additionally, the law firm will take on the task of transferring your home into your trust because it is difficult process. There are a variety of benefits to creating an estate plan including protection from probate, protection from federal estate taxes, and asset protection in certain situations. For more information about estate planning, or any of our legal services please call us for a free phone consultation!
