How To Set Up A Miller Trust In Arizona?

The property of a Miller trust is held by the trustee and his descendants, usually a spouse or children. The trustee can be changed at any time with no cause by the grantor without affecting how the trust operates.

The Miller trust allows for the distribution of assets upon the death of a person, without the need for probate. You can hire an attorney in Arizona via https://elderlawofaz.com/elder-law-altcs/ to secure the benefits and resources your loved one’s deserve.

Some important factors to consider when setting up a Miller trust: 

  • The trust must be drafted by an attorney.

  • The trust must be registered with the state.

  • The terms of the trust must be carefully drafted in order to ensure that it is valid and will meet the needs of the beneficiaries.

A Miller trust is a type of trust that can be used to manage assets for the benefit of an individual who is no longer able to make decisions on their own. It is unique in that it allows individuals to avoid probate and estate taxes.

If you are considering setting up a Miller trust, it is advisable to enlist the services of an elder law attorney. A Miller trust is a type of trust that can be used to protect your assets from creditors and family members. 

There are a few things you need to consider before setting up a Miller trust: who can access the trust assets, who will be responsible for paying the trust's annual taxes, and who will manage the trust's investments. It is important to consult with an attorney to make sure your specific circumstances are covered by the trust agreement.