Trusts are valuable tools for estate planning. They can be used to protect assets and direct their current and future disposition. Trusts are often included in wills and only become effective on the testator's death. These are called "testamentary trusts". However, trusts created during one's life can also make up a significant part of a person's estate plan. These trusts are called "inter vivos trusts" and may be revocable or irrevocable. They are created to serve many different functions including asset management, making gifts (to both minors and adults), holding out-of-state real estate and transferring assets outside of a person's probate estate.
Stover & Spitz LLC assists clients in creating all manner of trusts including revocable (or "living") trusts, Qualified Personal Residence Trusts ("QPRTs"), Irrevocable Life Insurance Trusts ("ILITs"), 2503(c) Trusts, "Crummey" trusts and GST exempt (or "dynasty") trusts, among others.
We will serve as counsel for both individual and institutional trustees in all stages of trust administration. We will also represent beneficiaries in trust matters.
Our services extend from matters such as the removal and replacement of a trustee to complex court-ordered division, reformation or termination of trusts and applications to the IRS for private letter rulings. We also represent trustees in the administration, distribution and termination of trusts, when trust administration is performed in lieu of or in addition to probate.
If you wish to consult with us about our potential representation of you in connection with a trust matter, please call us at 303-682-0433 to schedule an appointment.
See an IRS private letter ruling for which Stover & Spitz LLC prepared the application: