Living Trusts

The key to effective estate planning

Why Create A Living Trust

For most people, the first step in estate planning is to create a will, but there are more comprehensive options. A living trust can provide you with many benefits that are not available with a will.

A will communicates how you would like your assets to be distributed upon death and who you want to administer your estate.

A living trust (sometimes called an inter-vivos trust) is similar in that it does all this. However, it also allows you to retain control of your estate before and after your death.

Key benefits of A Living Trust

Avoid Probate

Avoid Legal Fees and Delay

Probate proceedings can take up to a year or longer. Until the courts decide on the distribution, the assets are typically "frozen". It can easily cost from 3% to 7% or more of the total estate value.

Unlike a Will (for assets over $75,000), assets included in  living trust are not subject to probate. This avoids possible delays of months or even years, as well as expensive executor and legal fees. A successor (named in the living trust document) is able to administer your estate to transition your assets.

Plan for disability

Ability to plan for disability

If a court finds that a person cannot make any or all of their important life decisions, that person can be considered incapacitated. With a living trust, the choosen successor takes charge.

If you become unable to effectively look after your estate or become incapacitated due to mental disability your named successor can manage your financial affairs without the expense and delays associated with further legal work. A Will on its own won’t allow this and your loved ones would have to ask the court to appoint a conservator to manage your financial affairs.

Greater Privacy

Greater Privacy

In addition to the expense, probate is public. All information about a deceased person's assets, liabilities, beneficiaries, and personal representatives are a matter of public record.

If privacy is important to you or your beneficiaries, a living trust is more secure than a Will as it remains a private document. A Will, on the other hand, will be a matter of public record because it must be filed with the probate court. Anyone can access your probate court file for their benefit. 

Beyond Probate

Leave A Legacy

We can also help you consider all your options when planning charitable deductions will help you map out the most effective way ahead. It will also help prevent potential tax issues for you, your family, or the organizations you want to help. Our legal guidance will save you the headaches of trying to go it alone with charitable contributions.

As easy as

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Expert Planning

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Unlimited Access

As many phone calls, emails, meetings, and reviews as it takes.

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