When you think of estate planning, you may think that all you really need is a will. Unfortunately, a simple will does not protect your assets or the people you love from the frustrating probate process.
If you want to keep your assets secure and make sure that they are passed on only to those people that you elect, you need to consider how you are going to make that happen.
Trusts can serve different purposes and can perform a variety of functions.
Establishing a living trust is one of the most popular methods of avoiding probate, paying less tax, and passing on your property. It also gives you the ability to set aside money to be used according to your wishes and protects your assets for the specific goals you identify.
The two primary advantages of revocable trust are that, unlike a will, a trust can go into effect and start working to your advantage the day that it is signed, and it can be used to avoid the costly and time-consuming probate process altogether.
A revocable living trust is often a valuable component to an estate plan. Since no two estates are the same, it’s important to discuss your personal situation with an experienced attorney from our law firm.
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Whether your goals are primarily asset protection or probate avoidance, a living trust may be the best way to accomplish those goals.
Call us today to schedule a consultation (210) 479-3195.