A living trust is one of the better ways to handle your estate, particularly if you have a lot of assets. It sets down a clear direction on how your assets should be disbursed as well as to whom. These living trusts help the individual to maintain control of their assets and wishes after they are deceased.
Benefits of the living trust
There are many benefits to having this type of document. Living trust forms have some of the following benefits.
- Avoids probate – which is when the court-supervises the process of distributing your estate after you are deceased.
- In most cases will save money.
- Assists in the event of you becoming incapacitated.
- Protects your privacy.
- Provides peace of mind as well as certainty.
Though it is not necessary, a living trust certainly helps in those cases where a person has considerable assets, owns property in several states, or has an extended family where dividing assets can become complicated.
Help from an attorney
The laws in each state on living trust are all different – for example, Florida living trust is different from those for the state of Texas. There is information on some internet websites having living trust forms for all 50 states. By answering a few questions, within a few hours, trained staff will call you to go over your forms for any problems, omissions, and questions that were misinterpreted. Their software will produce for you a legally valid Living Trust that is customized to your needs and the laws of your state. When it is sent to you, you can sign it as well as have it notarized and recorded. And this is done for a much cheaper fee than if you had your attorney do all of this work.
Remember if you have a lot of assets, you do not want a court to determine who or where they go – it is your decision and it can be done quickly today while you are currently thinking about it. Just find the form for your state and follow the instructions and this matter can be taken care of quickly and simply.