Living Trusts

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This special audio program outlines exactly how estate planning, living trusts, power of attorneys, living wills and wills work in our state. Simply fill in the form below and get instant access to download my FREE Estate Planning & Living Trust audio program.

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Many people think of a living trust much like a will. However a living trust is much more than that. A good living trust will do so much more than protect your estate and family after you are gone: it will protect you while you are alive. As you may already know, a living trust is one estate planning option that is very common these days. One reason for this is because many people are afraid that their estate will be locked into a long, expensive probate court proceeding after their death.

So, as a result many couples are changing their estate plan from a simple will to a revocable living trust. Every estate is different, and every attorney’s methods are different, however, there are many details that stay the same from estate to estate and knowing as much as possible can only help you in preparing your estate and your living trust.

A living trust is also known as a revocable living trust or a family trust and it is a legal document that holds title or ownership to your real property and assets while you are living. When you create a living trust you transfer ownership of your assets to the trust.

To many, the living trust looks a lot like a will. It includes the details and instructions on how you want your estate to be handled at your death. However, unlike a will a properly funded living trust:

  • Does not go through probate.
  • Prevents the courts from controlling your assets
    at incapacity.
  • Gives you control over the assets you leave
    to your minor children or grandchildren.

When the assets are in the name of the trust there is no need for probate since the estate is now controlled by the successor trustee of the trust. You or you and your spouse can be the primary trustees receiving full control to buy, sell, borrow or transfer in the case of a spouse’s death. After both spouses pass, the trust identifies the person who will act as successor trustee.

A living trust is an excellent estate plan. Whether you have already begun preparing your living trust, or are just now considering it, you can learn more about living trusts by following downloading my free living trust audio program to the right.

Inside this program, we’ll discuss what you need to know about living trusts in our state and we’ll talk about the questions you need to consider before you talk to your attorney.