Trusts + Trust Administration
Award-Winning Team
Licensed in MN, WI + ND
80+ Years of Experience
100% 5-Star Reviews
Customized Trust Planning for Minnesota + Wisconsin Individuals and Families
Trusts are among the most flexible and effective estate planning tools available. Depending on your goals, a trust can help manage assets during your lifetime, provide for loved ones after your death, simplify administration, protect beneficiaries, support charitable giving, and address unique family or financial circumstances. The right trust structure can provide clarity, flexibility, and control while helping ensure your wishes are carried out as intended.
At Lommen Abdo, we help individuals and families throughout Minnesota and Wisconsin evaluate whether a trust makes sense as part of their overall estate plan. Every family situation is different, which is why we take the time to understand your goals, assets, relationships, and concerns before recommending a particular approach. Whether you are creating a revocable living trust, planning for beneficiaries, protecting assets, or updating an existing trust, our attorneys provide practical guidance tailored to your circumstances.
Trust Planning: What You Should Know
- Trusts can be used to manage assets during your lifetime and distribute assets after your death according to your wishes.
- A revocable living trust may help simplify estate administration and provide continuity in the event of incapacity.
- Trusts can be tailored to address specific family, financial, charitable, or beneficiary-related goals.
- Trust planning can be particularly valuable for blended families, individuals with significant assets, and families with unique circumstances.
- Trusts should be coordinated with wills, powers of attorney, healthcare directives, and beneficiary designations as part of a comprehensive estate plan.
- The most effective trust plans are customized to reflect your goals, family dynamics, and financial situation.
Certain trust structures may provide asset protection benefits for beneficiaries while preserving flexibility.
Why Choose Lommen Abdo
- We recognize that no two families or estate planning goals are exactly alike.
- Our attorneys take the time to understand your objectives before recommending trust structures or planning strategies.
- We have experience helping clients with both straightforward trust planning and more sophisticated estate planning needs.
- You’ll receive practical advice designed to balance flexibility, protection, administration, and family considerations.
- We understand how trust planning decisions can affect beneficiaries, family relationships, administration responsibilities, and long-term financial goals.
- Our collaborative approach allows us to address tax, real estate, family, and asset-related considerations when appropriate.
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Frequently Asked Questions
What is a trust?
A trust is a legal arrangement that allows assets to be managed and distributed according to instructions established by the person creating the trust. Trusts can be used during a person's lifetime and after death.
Do I need a trust or is a will enough?
The answer depends on your goals, assets, family situation, and planning priorities. Some individuals only need a will, while others benefit from the flexibility and administration advantages trusts can provide.
What is a revocable living trust?
A revocable living trust is a trust that can generally be changed or revoked during your lifetime. It allows assets to be managed according to your instructions and can provide continuity if you become incapacitated.
Can a trust help avoid probate?
In many situations, assets properly held in a trust may avoid probate. However, whether a trust is appropriate depends on your overall estate planning objectives and circumstances.
Can a trust protect assets for my children or beneficiaries?
Yes. Certain trust structures can help protect assets from creditors, divorce, poor financial decisions, and other risks while still providing benefits to beneficiaries.
Can a trust be changed after it is created?
Some trusts can be modified, amended, or restated, while others are designed to be irrevocable. The options available depend on the type of trust and the circumstances involved.
Can Lommen Abdo help administer a trust?
Yes. We regularly assist trustees, beneficiaries, and families with trust administration, trustee responsibilities, trust modifications, and trust-related disputes.
Ready to Talk? Contact Lommen Abdo.
Whether you are considering a trust for the first time, updating an existing estate plan, administering a trust, or addressing a trust-related dispute, Lommen Abdo can help. Contact our team to discuss your goals and determine the best approach for your circumstances.
