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Home :: FAQ :: How to Set Up a Trust | Get Answers Now

How to Set Up a Trust | Get Answers Now
If you’ve decided to set up a family trust, or you’ve come to the conclusion that setting up a living trust is a wise decision for your circumstances, read below for more information on how to set up a trust.

Trusts come in many forms, revocable, irrevocable, testamentary, even “spendthrift trusts”. They’re relatively simple to conceive, but complicated to put together – a qualified estate planning attorney should be at your side to set up a living trust – or any trust.

If you’d like more information from our attorneys on setting up trusts as well as any questions you may have regarding wills and estates planning, just give us a call at (703) 468-1885 or e-mail us at This e-mail address is being protected from spambots. You need JavaScript enabled to view it and one of our attorneys will contact you quickly to discuss your needs and goals.

The Different Types of Trusts

When you’re thinking of placing your property, funds and other assets into a trust, here are the different types of trust accounts you might consider:
  • A testamentary trust transfers property into the trust only after the death of the person who owns the property placed in trust (the property owner is called the grantor). Many people create this type of trust as part of their wills because this type of grantor trust will “reinforce” their desires and goals after their passing. You can specify conditions for someone to receive a part of your property and you can elect to spread the payment of benefits over a period of time (instead of making a one-time, single gift). Property in this type of trust must go through probate.
  • A living trust is one that starts while the grantor is still living (it may be set up so that it will continue after his or her death). This type of trust can help avoid probate on those assets that have been transferred into the trust. When setting up a living trust, you’ll be asked whether you wish to make it revocable (changeable during your lifetime) or irrevocable (it can’t be changed). Most people who create a revocable living trust almost always stipulate that it become irrevocable after their death.

Start Creating Your Trust Account Today

The more assets and property you have – especially if you have children – the more imperative it is that you create a trust. A trust can stipulate who gets what, when and, how. In the case of a living trust, you can often keep a larger portion of your estate to pass on to your heirs (rather than to the government).

The estate attorneys at Irving & Irving are happy to discuss how to set up a trust that fulfills your wants and needs regarding how you want to handle and distribute your estate after your passing. They will help you find the best type of trust to create and will handle all the details of its creation.

Give us a call at (703) 468-1885 or fill out our This e-mail address is being protected from spambots. You need JavaScript enabled to view it and one of our attorney’s will get back with you promptly.

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