Living Trust

A living trust is a legal document that states who you want to manage and distribute your property if you're unable to do so, and who receives it when you pass away. Once signed, you transfer ownership of your assets into the trust and you remain in complete control of your property. The living trust property can be managed and distributed without going through the probate court.

 

  • Keep more money in the family by avoiding potentially lengthy and expensive court proceedings.
  • The public doesn't get to see what you owned, who you owed, and who'll inherit your assets.
  • Avoid going to court by appointing a trustee to take charge of your finances according to your instructions.

You want to make sure your property goes to the right people, at the right time and at the least cost. A living trust can do all this. Living trusts helps you manage and distribute your property efficiently without court interference.

 

Frequently Asked Questions:

Can I transfer property into and out of the trust while I'm alive?
Yes. If you have an individual trust, you can transfer property whenever you want. If you have a shared trust, you'll need your co-trustee's consent if you own the property together.
Do I still need a will if I have a living trust?
Yes, because you may not have transferred your property into your trust before you pass away.
Aren't living trusts just for the wealthy?
Not at all. People of all income levels can set one up to manage their finances in case they become disabled, or to provide for loved ones without going through probate court, which may be required of relatively modest estates.

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