Living Trusts -- The Benefits Make all the Difference

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There are many advantages to setting up a Living Trust. A Living Trust document is a powerful Estate Planning tool that can help your family avoid Probate, which saves on court and legal expenses, and also gives you more control over the management of your assets, in your lifetime and after. The following are advantages that a Living Trust can bestow.

Avoid Probate

One of the biggest advantages of setting up Living Trust is that it allows its owner to keep property out of Probate upon death. Assets that have been funded into your Living Trust can avoid Probate, and your heirs can be spared time, money and frustration from having to deal with the expenses and proceedings of the Probate process.

Save on Expenses

Probate can tie up your assets in several years of messy court litigation. This involves several court appearances by the executor of your estate, which often requires the assistance of an Estate Planning attorney. Any remaining debt and court and legal fees associated with Probate must be paid prior to the disbursement of assets. This means that it could take several months and even years before your heirs receive their inheritance.

Unlike a Will, a Living Trust allows your trustee power to distribute the assets, based on your instructions, outside of court, which eliminates legal and court fees associated with Probate.

Designated Management of Your Assets

An accident or a medical emergency can render you unable to manage your affairs. Establishing a Trustee through a Living Trust means there will be someone looking over your affairs and overseeing the proceedings, based on the instructions you set forth in the Trust document. In the event of death, your successor trustee takes full control of the management, and must adhere to your Trust specifications.

Living Trusts Provide a Greater Measure of Privacy

There is always the possibility there will be unhappy heirs and creditors on the prowl. Once a Living Trust is in place, it makes it extremely difficult for anyone to challenge your instructions for distributing your estate’s assets. Essentially, it protects the legacy you’ve left for yourself to enjoy while alive, and your loved ones to benefit from when you’ve passed away.

Download Your FREE report, “Living Trusts: Calculating the Benefits” and learn the secrets of managing your assets so that your legacy will be preserved for beneficiaries.

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