The Importance of Preparing a Living Trust
Give yourself and your loved ones the piece of mind they deserve by preparing a living trust. A living trust is much like a will and is an excellent way to ensure the long term security of your legacy and to protect your property. Like a will, a living trust allows you to name beneficiaries and to assign a person to manage the trust after you’ve passed away (called the “successor trustee”). You can also appoint custodians to manage property for your children if they’re minors, and you can determine how your property will be distributed when you pass away. In addition, a “pour over” will allows you to appoint guardians for your minor children, if needed, when you pass away and to appoint an executor to wrap up your estate.
A Living Trust Avoids the Problems of Probate
The most important difference between a living trust and a will is that a trust protects your estate from probate proceedings, a will does not. No one enjoys probate, which can be an extremely time-consuming and expensive process that will be taking place at a time when your loved ones will want to focus on dealing with their loss, not struggling with a mountain of legal issues. Probate includes notifying the court of your passing, submitting your last will and testament if you have one, and an inventory and appraisal of your estate. It can greatly delay the distribution of your property and in some cases include court fees that are based on a percentage of your net worth, placing a huge financial burden on your beneficiaries. Also, unlike a living trust, probate records are public documents and can be viewed by anyone, including non-beneficiaries.
Preparing a living trust avoids the hassles, delays, and incredible expense of probate proceedings and protects the privacy of you and your beneficiaries. Click here to learn more about the differences between a living trust and a last will and testament. With our living trusts, you can still retain some of the benefits of a will, such as appointing guardians for you minor children, if needed, when you pass away and appointing an executor to wrap up your estate. We include a “pour over” will with our trust packages to ensure no stone is left unturned when it comes to your estate plan.
Personalize Your Living Trust with The Document People
We work with an estate planning attorney who can draft and your living trust to suit your specific situation and needs – our living trusts are not created with cookie-cutter computer software! We also include a pour over will to take care of the residue of the estate (personal belongings, furniture, jewelry, etc.) and include Power of Attorneys for Finance and Health as well as the notary services. We truly are your one-stop document preparation center.
The best way to enjoy the future is to be prepared, so if you’re ready to have security and piece of mind for tomorrow, contact us today!
Fillable Forms for Living Trusts:
We believe that we are the best choice to have your living trust drafted because we can offer both an extremely competitive price AND the piece of mind to know it’s done right by an attorney (we don’t use a template like everybody else, an actual attorney will work on your trust).
For a flat fee, we provide:
Do you own real estate? Let us take care of funding your trust with a quitclaim deed.
Why is a Living Trust a smart choice?
It’s impossible to compress a complete explanation of what a living trust does in a few words, so we put together an overview to go over pretty much everything you need to know. For the full text, read our Living Trust Overview.
TABLE OF CONTENTS
|What is probate and why you want to avoid it||2|
|The high cost of dying||2|
|A revocable living trust eliminates probate||3|
|How a living trust works||3|
|Revocable living trust and income tax||5|
|Death taxes and revocable living trusts||6|
|Revocable living trusts and married couples||6|
|Living trust package||7|
|Executing and funding your living trust||8|
|How to fund your trust||14|