A living trust is a popular way to avoid probate, which can be a very expensive and time consuming process. A living trust is created while a person is still alive; a revocable living trust is a trust that can be managed and changed throughout your lifetime.
If you have a living trust, probate is not needed because the trustees inherits the assets of the trust. Anything that is transferred into the living trust before death does not go through the probate process and can also avoid expensive court fees.
At Vanguard Legal Group, we utilize an estate planning package that includes a living trust. A will is also important because it helps control any property that is mistakenly left out of the trust. By setting up a will in addition to a trust, you can name a person to inherit any assets and property that is not included in your trust. This will ensure that all of your assets are dispersed in a timely manner that you approve of rather than it being determined by the state.
Attorneys at Vanguard Legal Group have years of experience in helping individuals and couples set up living trusts and wills to protect their family from costly fees and the many headaches that can arise when someone passes.
We never charge to speak to an attorney, so if you have questions or want to learn more we are available to help.