Bowden & Wood serves 100+ estates and trusts, many of which are associated with our other clients. Estates and trusts are designed to protect the future. Why would you work so hard to build your business, if you don’t plan for what will happen to your assets? You want to make your wishes are known, to provide for the futures of your heirs, and to arrange for your own long-term care. However, estate and trust laws are complicated. Bowden & Wood can see you through the difficult process of estate planning.
We have experience with several common forms of trusts, such as:
The provisions of a revocable trust can be altered or cancelled on the instruction of the grantor. The income earned is distributed to the grantor, and is only transferred to the beneficiaries after death.
The provisions or an irrevocable trust cannot be modified without the permission of the beneficiary. The grantor transfers assets into the trust, resigning all rights of ownership.
Life Insurance Trusts
This is an irrevocable, non-amendable trust. In the event of the death of the insured individual, the Trustee invests life insurance proceeds and administers the trust for one or more beneficiaries.
This is a trust specified in a will.