Asset Investment Trust – The Attorney Question

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“Do I need an attorney to create a trust?”

“Can I do this myself?”

The short answer is “No” you don’t need an attorney and “Yes” you can create your own trusts; however, many factors must be considered.

1st – Trusts are legal documents and they control and convey the ownership (Title) of real or personal property. Trusts can tremendously affect your taxes and net worth. Any time you consider transfer of a property you should consider the legal ramifications and may want to consult an attorney or CPA, but you want to make sure they are well versed in Trusts and the Law associated with them.

2nd – Many states do not require attorneys to have any education in trust law. Since most trust law is part of English Common Law it was originally part of our constitution. Many of the rulings on trust law have been in a few states like Illinois and Massachusetts. Other states are beginning to model these laws but the process is slow to come. Make sure your attorney understands trust law and the benefits of using trusts.

3rd – It may be less expensive to purchase or create your own documents and simply have them reviewed by an attorney. If you pay an attorney to create documents from scratch, you will pay far more than for them to review documents you have created. Trust documents are available through many sources, including our website.

4th – Consider using our website to create you trust documents and then having them reviewed by an attorney. Our documents are simple and easy to understand. Our auto-fill feature will be operational in a few weeks and you can use the site to create, manage, retrieve, print or email your trust documents.

5th – Whether you use our site, find the documents someone else or have them created by an attorney, please consider using trusts to plan your estate, protect your assets and maintain your privacy.

For more information, please visit our website.
www.AssetInvestmentTrust.com

Greg Gardner - Director
Asset Investment Trust
112 S. Main St,
Clover, SC 29710
877-567-2513 (Ext 101)

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Rainmaker
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Lise Howe
Assoc. Broker and Attorney Licensed in DC, MD, VA,
Keller Williams Capital Properties

On the other hand be very careful to use documents that are accepted in your state. Once you are in trouble or gone and want to benefit from your trust or have your heirs benefit, it may be too late to find out that the documents aren't valid in the state that you live in. Sometimes it is a good thing to save money and sometimes it costs more money in long run. Just be careful and make sure that you get your trust documents reviewed by someone who knows what it correct and legal and enforeceable.

January 12, 2009 01:15 PM
Rainmaker
437,009
JL Boney, III
Columbia, SC Real Estate
Russell and Jeffcoat

I have learned these days that I should consult an attorney for just about everything. The other day I called my attorney to ask his advice on what to order for lunch just to have some fun with him.

January 12, 2009 06:20 PM
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Greg Gardner

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Blog about Banner Haven Bed and Breakfast and all the happenings, real estate and otherwise, in the high country of North Carolina