Estate Planning | Making a Difference One Family at a Time

Many Connecticut residents use trusts as part of their estate plans because they can provide greater control over how assets are managed and distributed. While wills are an important estate planning tool, a trust-based plan may help address additional goals, such as avoiding probate, protecting assets, and providing ongoing management for beneficiaries.

What Is a Trust?

A trust is a legal arrangement that allows one person, known as the trustee, to manage assets for the benefit of another person or group of people, known as beneficiaries. The person creating the trust is called the grantor or settlor.

Common Steps to Create a Trust in Connecticut

Creating a trust involves several important decisions to ensure the plan reflects your wishes:

  • Choose the type of trust that aligns with your goals.
  • Identify assets that should be included in the trust.
  • Select a trustee who can manage the trust responsibly.
  • Name beneficiaries and establish how assets should be distributed.
  • Fund the trust by transferring ownership of selected assets.

Why Consider a Trust-Based Estate Plan in Connecticut?

Why Consider a Trust-Based Estate Plan in Connecticut?

  • Greater control over how and when beneficiaries receive assets.
  • Potential probate planning benefits for certain assets.
  • Increased privacy compared to probate proceedings.
  • Structured support for beneficiaries who may need ongoing financial management.

Revocable Living Trusts and Estate Planning

A revocable living trust is one of the most common trust options used in estate planning. It allows the grantor to maintain control over assets during their lifetime while providing instructions for management and distribution after death.

Trustee Responsibilities in Connecticut

A trustee has important responsibilities when managing trust assets. These may include:

  • Managing trust property according to the trust document.
  • Keeping accurate records of trust transactions.
  • Acting in the best interests of beneficiaries.
  • Following the instructions established by the grantor.

How Trusts Work Alongside Wills

Although trusts can be a central part of an estate plan, many trust-based plans also include a pour-over will. This type of will can help transfer assets that were not placed into the trust during the grantor’s lifetime.

Updating Your Trust and Estate Plan

Life changes may require updates to your trust. Major events such as marriage, divorce, the birth of a child, changes in financial circumstances, or changes in your wishes may be reasons to review your estate plan.

You Are Here to Help!

Our attorneys are standing by if you are ready to create a trust-based estate plan. You can call us at 860-548-1000 to schedule a consultation at our Glastonbury or Westport, CT estate planning office, and you can alternately use our contact form to send us a message.