Trust Attorneys in West Virginia
Experienced & Trust Preparation & Litigation Services
As a leading estate planning firm in West Virginia, Wooton Davis, Hussell & Johnson, PLLC has extensive experience in all matters related to the creation and administration of trusts. This includes drafting and preparing trusts of all kinds and providing guidance to family members going through the trust administration process. We also represent trustees who need additional legal support in ensuring they are fully compliant with fiduciary duties as well as representing clients in trust disputes and litigation in court.
What is a Trust & How Do They Work?
Trusts are valuable estate planning tools that can be created in many ways for various purposes. These legal instruments allow you as the trustor to place property and assets into a separate legal entity to be managed by a trustee for the benefit of your loved ones and other beneficiaries. The trust will hold title to your assets and property which will eventually be passed on according to your instructions by your trustee upon your passing.
Trusts can be both revocable and irrevocable. In the most common trusts, called “living” trusts, you can manage your assets as the trustee while you are alive and have your successor trustee administer your estate to your beneficiaries after your passing.
Benefits of a Trust
Trusts are created for many reasons and can be used in conjunction with wills to provide detailed instructions as to how your assets will be passed on after your death. However, trusts have many additional benefits that legal wills do not.
The benefits of various types of trusts include:
- Probate avoidance. This allows your estate to be settled much faster, sparing your heirs from this lengthy court process and fees.
- Minimization of taxes. This includes estate taxes.
- Protection and direction of your assets. This includes directing what a beneficiary will receive and when it will be distributed, such as at a certain age, after graduation from college, or on a schedule in cases where the beneficiary may be irresponsible with money.
- Charitable gifts. A trust allows you to pass on assets to your favorite causes.
- Protection from creditors. A trust can protect your assets from your beneficiaries’ creditors as well as provide protection from loss in a divorce.
- Direction in the event of a beneficiary death. A trust can instruct how assets should be distributed should a beneficiary pass away.
- Privacy. Unlike wills that go through the public process of probate, trusts administration is handled privately out of the public eye.
- Protection of special needs children/relatives. Trusts can be created to provide assets for disabled family members who receive government benefits, such as Medicaid or Supplemental Security Income benefits. These trusts allow these individuals to receive income without losing those benefits.
- Business succession. A trust can ensure that your business continues to operate smoothly after your death, protect your assets from creditors, provide tax prevention, probate avoidance, and more.
Trust Administration & Litigation in West Virginia
Litigation that involves trusts or estates can be complicated, involving many details that must be addressed or incorporated into the case. These are not matters that are easily handled without the guidance of an experienced trust litigation attorney. At Wooton, Davis, Hussell & Johnson, PLLC, we work on behalf of plaintiffs and defendants in all types of trust and estate litigation throughout West Virginia.
We understand how difficult these cases can be, especially when family members may be fighting over the right way to handle the estate administration process. Our trust litigation lawyers work tirelessly to see that our client's best interests are preserved and the case is resolved in a satisfactory way whenever possible.
Offices in Lewisburg, Charleston & Beckley, WV
Our West Virginia trust attorneys are well-known and well-respected for providing highly-professional estate planning across the state. We know that the time after the death of a loved one can be difficult. These emotions are exacerbated when arguments arise over how an estate should be handled. Our firm focuses on reaching creative, cost-effective solutions to all issues related to trusts, from their creation to administration or litigation in court. We are here to provide the support that will further your goals and best interests.