Do You Need a Trust Lawyer in Loves Park, IL?

You might be wondering if you need a trust lawyer in Loves Park, IL; if you do, you might wonder what purpose he or she might serve. In a nutshell, trust law is a three-party asset law. The three parties are the trustor, the trustee, and the beneficiary. There do not actually need to be three different people in these three-party negotiations. The person who is the trustor cannot also be the trustee; however, the trustee can be the beneficiary as well. Also the trustor can also be the beneficiary. One of the reasons that people place their assets into trust is to avoid conflicts of interest.

Avoiding Conflicts of Interest

To avoid a conflict of interest, you need a trust lawyer from a great firm close to you such as Hampilos & Associates, Ltd. He or she will offer you the opportunity to put your assets into a trust that will protect your assets as well as protect your liability. For example, if you take a nearby job at a company while also holding assets that could conflict with your job, you need to put your money in a trust.

You might also need a probate lawyer or an estate planning lawyer if you are dealing with handling your assets. You also need to make sure that you have your assets in order if you are going through a divorce. A divorce lawyer will help you make sure that you are keeping as much control of your assets as possible.

Protecting Assets

In some cases, you might use a trust lawyer close to me to place your assets into a trust to protect them. If someone is after your assets, putting them into a trust with a responsible third party can sometimes help you keep them out of the hands of irresponsible parties. That’s a great way to protect your assets from malicious actors.

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