We’re finding the number one reason for the living trust is so that your loved ones don’t have to deal with courts and attorneys. If you don’t have a living trust, chances are your loved ones will have to go through the court procedure called “Probate.” Sure, probate is costly and time-consuming and a violation of your privacy, but the biggest problem is that you are subjecting the people you love to going to court and dealing with attorneys. And if you have property in more than one state, there may be multiple probates. So for most people the solution is a living trust (protects all assets titled in the trust from probate and guardianship) with a pour-over will (probates assets you neglected to put into the living trust), a health care document (says who will make health care decisions if you can’t) and a springing power of attorney for assets (says who will handle non-trust assets like retirement plans if you become incapacitated). Use a living trust to avoid probate. Where there’s a will…there is a probate! Don’t make your loved ones go through it!
Make it easy for your family
Categories:
Related Post
Have you updated your Trust since 2004?Have you updated your Trust since 2004?
DOES THE NAME TERRI SCHIAVO RING A BELL? All of us watched the unfortunate events on the news BACK THEN involving one family’s struggle with the right to die with dignity.
Living Trust Q&ALiving Trust Q&A
What control do I have over my assets in the Trust? As the Trustor, person who created the trust, you have total control over your assets. Now when you add things
Get rid of your Safe Deposit BoxGet rid of your Safe Deposit Box
The conventional wisdom is to put your loved ones on the safe deposit box or title the box in the name of your living trust. The problem is, when you