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A Trust-Based Estate Plan offers a significant advantage: it allows direct asset transfer to your chosen beneficiaries, without the often lengthy and complex probate process and maintaining family privacy. By transferring assets into your Trust, you maintain control during your lifetime while ensuring a smooth transition of wealth after your passing.
A Trust-Based Estate Plan goes beyond asset distribution. It provides a framework to safeguard the welfare of your children, specify your healthcare preferences, and outline your final arrangements. Every aspect of your plan is tailored to reflect your exact wishes, ensuring your estate will be managed and distributed according to your specific instructions, protecting your loved ones and preserving your legacy efficiently and privately.
The cornerstone of your estate plan, providing flexible control over asset management and distribution during your lifetime and beyond.
Designate trusted individuals to access your protected health information, ensuring informed decision-making in medical situations.
Articulate your wishes for dependents and final arrangements.
A dynamic inventory of trust-held assets, easily updatable to reflect your current estate composition.
Document your healthcare preferences, offering crucial guidance when you're unable to communicate directly.
Appoint a trusted agent to manage your personal and professional affairs during absence or incapacity.
Real Stories from Real People
Both documents can be used to distribute assets to beneficiaries after death. A will is easier to set up, but it is usually required to go through probate to distribute assets, which can be time-consuming and costly. Assets placed in a living trust avoids probate, but the trust requires more initial setup and ongoing maintenance.
Yes, with an individual living trust, you can transfer assets freely while alive. As the trustee, you maintain control. After death, control passes to your successor trustee. Joint trusts may require co-trustor consent for shared property.
A revocable living trust can be modified or revoked by its creator(s). An irrevocable trust, once established, cannot be changed or revoked.
Yes, a will is advisable even with a living trust. It covers assets not transferred to the trust. Our living trust includes a "pour-over" will to ensure all assets go to beneficiaries. The will also nominates guardians for minor children and specifies funerary arrangements.
Yes, living trusts are valid in all 50 states. However, consult a local attorney when moving to ensure it's up to date. Be sure to transfer any new assets acquired in the new state into your trust.
No, living trusts can benefit people of various income levels. They're useful for managing finances if disabled and for avoiding probate, regardless of wealth.
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