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Most people understand the importance of having a will in place to ensure that their assets are properly distributed after their passing. If your assets include stocks, bonds, or significant amounts of cash, or other holdings, it is especially important to have a living trust. Though living trusts are more complex types of legal documents than wills, they may cost more. However, in the long run, the financial benefits will outweigh this cost. Moreover, it will make life easier for your loved ones after you pass away.
Also known as a revocable trust or inter vivos, a living trust is a written legal document that is used to place assets into a trust, for your benefit, throughout your lifetime. Upon your death, your chosen successor trustee acts as a representative, and distributes these assets to designated beneficiaries. Contact an experienced estate-planning lawyer at Citadel Law Corporation today at (800) 662-0882 for more information.
Because living trusts cost more money to establish, it must be a practical option for everyone. Here are the benefits to establishing a living trust:
People elect to establish living trusts for many reasons. A few of the top benefits of living trusts include:
If you are interested in establishing a living trust, contact an estate-planning attorney at Citadel Law Corporation. Our number is (800) 662-0882.
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