Inter Vivos and Testamentary Trusts

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A Trust is a relationship where a person (called the Trustee) holds and controls property for the benefit of another person or persons (called the beneficiaries). Trusts are one of the most flexible tools in estate planning and can be used not only to benefit a person while maintaining restrictions on the use of that benefit but also to minimize tax liabilities.

Trusts can be established both during your life (an Inter Vivos Trust) or upon your death by establishing it in your will (a Testamentary Trust). Trusts can be made both for the benefit of friends and family, and for charitable purposes.

Because Trusts have been abused in the past to avoid taxes and creditors illegitimately, the rules and formalities of Trusts are onerous and complex. A carelessly settled Trust can easily collapse or its earnings taxed at the highest income tax rate. Our lawyers can assist in navigating the intricacies of Trust Law, helping you plan and structure a Trust customized to your needs, and helping you give legal effect to your intentions.

At BARR LLP, our trust services cover both Inter Vivos (living) and Testamentary trusts, providing comprehensive and personalized solutions to protect your assets and secure your legacy. Our knowledgeable lawyers will work closely with you to determine the most appropriate trust structure for your unique needs and goals.

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