LIVING TRISTS-TRUSTS-AND WILLS

A living trust is a powerful estate planning tool that allows you to manage your assets during your lifetime and ensure a smooth transfer to your beneficiaries after death—without the hassle of probate.

🧾 What Is a Living Trust?

A living trust is a legal arrangement where a person (called the grantor) places their assets into a trust, managed by a trustee, for the benefit of chosen beneficiaries. The grantor can also be the trustee while alive, maintaining control over the assets

🛠️ Types of Living Trusts

  • Revocable Trust: Can be changed or canceled by the grantor at any time.

  • Irrevocable Trust: Cannot be altered once established, offering stronger asset protection and potential tax benefits.

✅ Benefits

  • Avoids Probate: Assets pass directly to beneficiaries, skipping court delays2.

  • Privacy: Unlike wills, trusts aren’t public record.

  • Continuity: If you become incapacitated, your successor trustee can manage your affairs.

  • Flexibility: You can include almost any asset—real estate, bank accounts, vehicles, intellectual property.

 Drawbacks

 

  • Setup Costs: Legal fees can be significant.

  • Complexity: Requires careful planning and proper funding (transferring assets into the trust).

  • No Tax Shelter (for Revocable Trusts): Assets are still considered part of your estate for tax purposes.

If you're considering one, it’s wise to consult an estate planning attorney to tailor the trust to your needs. Want help figuring out if a living trust is right for your situation? I can walk you through it.

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Beyond the ordinary

This is where our journey begins. Get to know our business and what we do, and how we're committed to quality and great service. Join us as we grow and succeed together. We're glad you're here to be a part of our story.

Beyond the ordinary

This is where our journey begins. Get to know our business and what we do, and how we're committed to quality and great service. Join us as we grow and succeed together. We're glad you're here to be a part of our story.

Beyond the ordinary

This is where our journey begins. Get to know our business and what we do, and how we're committed to quality and great service. Join us as we grow and succeed together. We're glad you're here to be a part of our story.

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