"There is No Greater Gift You Can Give a Loved One than the Freedom a Living Trust Provides"
Questions About Trusts?
- What are Trusts?
Trusts are legal instruments created by you to hold title to money or property and to pay out or hold those assets per your instructions. The legal title to your property is transferred to the trust, yet you or your family can continue to enjoy the benefits of these assets.
- How are Trusts Created?
Trusts are created by people during their life time (Living Trusts) or in their Will (Testamentary Trusts). Trusts are legal documents creating a relationship between people and property.
- Can Trusts be Changed?
Revocable Living Trusts can be changed or amended by you during your lifetime. They provide a Living Plan for the management of your assets. They provide a smooth transfer of your assets to your family upon your death.
- Will A Living Trust Save Me Money?
A Living Trust will cost you money now, but it will save your loved ones many times its present cost. Along with saving dollars, there are immeasurable savings in terms of speedy settlement, family harmony, and smooth transition of your estate after your death. A Living Trust is a legal instrument that will save your estate thousands of dollars and give you peace of mind.
- Does the Living Trust Avoid Probate?
Yes! By placing title to your assets in the Trust, the law allows these assets to be transferred according to your directions and without probate.
Probate
- What is Probate?
Probate is a process for:
- Changing title to property through a court-appointed representative
- Dealing with disputes and settling claims
- Assuring payments of estate taxes
- What's wrong with Probate?
- Often diminishes the value of your estate through high costs
- May cause time delays in estate settlement
- Allows public access to information regarding your estate
- Creates undue stress for all parties involved
- What Costs are Involved in Probate?
- Probate Fees
- Executor's Fees
- Attorney's Fees
- Death Taxes
A Living Trust Plan
Contents of YOUR Plan
- Revocable Living Trust - An independent entity in which you place your assets. Transfer of legal title to the Trust, managed by a 'Trustee' for use by you during your life time and for distribution to your heirs.
- Trust Assets and Conveyance Documents - The paperwork to transfer legal title of your assets into your Living Trust.
- Pour-Over Wills - Directs that all assets not placed in the Living Trust during your lifetime will be placed into the Trust at the time of your death.
- Statutory Durable and Tax Power-of-Attorney - Designates an agent to act in a legal capacity on your behalf.
- Living Wills or Health Care Proxies - Allows health care providers to discontinue medical techniques that prolong the process of dying.
- Essential Document Locator - Places all essential information in a single location. This eases the burden on your heirs of having to search for your important documents.
- Trustee Information - Instructions for operating your Living Trust.
- Glossary/Information - Explanation of terms and answers to the most commonly asked questions on Living Trusts.