If you answer “Yes” to any of the statements below,
you just might need a Living Trust:
I want to avoid the Probate process I own real estate or I have a mortgage I own real estate in multiple states I have minor children I have a Special Needs Child I have children from a previous marriage I own assets from a previous marriage I don't want to leave difficult decisions to my loved ones I value my privacy I want to leave a loving legacy
Unlike a Will, a Living Trust has many living benefits in addition to avoiding Probate: A Living Will, Nomination of Conservator, Durable Power of Attorney for Assets and Healthcare, Guardian for Minor Children, and more.
What is Probate?
The Purpose of Probate
The Cost of Probate
A Living Trust is officially known as an Revocable Trust. It is a revocable statutory trust and in most cases it remains completly under the control of the individual(s) who drafted it. In the vast majority of cases the Trustors (the one who formed the trust) are also the Trustees (the ones who control the trust) and also the beneficiaries (the ones who receive the benefit from the trust). Wearing all three hats puts you in full control of the trust. You can do anything you want with the trust, even terminate it at will. You control all the assets after they are funded into the trust just as they did before they put them into the trust. Because the trust is revocable it has no tax identity of its own. A tax identifacation number is not necessary until one of the trustors dies. A Living Trust gives no liability protection for the assets that are in it and no special tax benefits other than doubling the estate tax exemption for a married couple.
Different types of Living Trust to Consider.
Not All Living Trusts Are Created Equally.
Here's why I recommend Heritage Living Trust:
■Preparing Living Trusts Nationally Since 1990
■Comprehensive Living Trusts
■A+ Rating by Online BBB
■Free Lifetime Changes
■Free Lifetime Support