Living Trusts Information

A living trust is a legal document that, like a will, contains your wishes for what you want to happen to your assets after you die. However, unlike a will, assets that are a part of your trust will not have to go through probate. You continue to control all of your assets while you’re alive, and the person that you name as your successor trustee will manage your affairs should you become incapacitated.

  • How long can a living trust last?  
    Details
    The majority of living trusts are settled immediately after the death of the grantor. The process can take up to one year or more depending upon the complexity of the estate.
  • Putting a house in a living trust  
    Details
    When you create a living trust, the step is to fund it. For assets such as bank accounts, you simply change the name on your account to the name of the trust. But, if you want to put your house in the trust, it’s more complicated.
  • Cryptocurrency in living trusts  
    Details
    Cryptocurrencies are digital assets that let you buy goods and services. You can also trade them for profit. They can hold a significant amount of wealth, but present some challenges when it comes to leaving them to your beneficiaries.
  • Privacy protection benefits in a living trust  
    Details
    If you want to add an extra level of privacy protection for your personal information, consider creating a living trust as part of your estate plan.
  • The living trust gift that keeps on giving  
    Details
    This holiday season consider giving your loved ones the gift of a living trust that will keep on giving long after the holidays are over and for many years to come, even after you’re gone.
  • Living trust basics  
    Details
    If you’re considering including a living trust as part of your estate plan, you’ll want to first familiarize yourself with the basics of living trusts, including the advantages vs. disadvantages.
  • Why does the bank need a copy of your living trust?  
    Details
    When you create a living trust, you should be provided with a summary of the trust, either a Certificate of Trust or Memorandum of Trust, that proves you are the grantor and that has all other information needed by your bank to transfer your accounts into the trust.
  • Living trust success stories  
    Details
    Too many people procrastinate about creating an estate plan or never create one because of a misconception that estate planning is only for wealthy people. Not true! Creating an estate plan that includes a living trust allows you to keep control over your assets while you living and also have control over how they’re distributed after you’ve died.
  • Reasons you don’t need a living trust  
    Details
    Wills and living trusts are two useful estate planning tools. The question that a lot of people have is whether they need a will or a living trust or both?
  • Digital asset protection in a living trust  
    Details
    As a result of technology, more and more information is being stored in electronic form. These “digital assets” require updated estate planning solutions.
  • When does it make sense to have a living trust?  
    Details
    A comprehensive estate plan should consist of the following: will, Power of Attorney, medical directive, and, for many people, a living trust? When does it make sense to include a living trust in your estate plan?
  • Surrendering an irrevocable living trust  
    Details
    When an irrevocable trust is created, the settlor relinquishes ownership and control over any assets that are transferred into the trust, and, in theory, isn’t able to modify the terms of the trust after it’s been established. However, surrendering an irrevocable trust can be done under certain conditions.
  • Questions to ask your living trust attorney  
    Details
    There are a variety of estate planning options available today, including living trusts. If you’re considering creating a living trust as a part of your estate plan, there are some important questions that you’ll want to ask your living trust attorney.
  • The problem with DIY living trusts  
    Details
    Many people decide to create a DIY living trust because it’s cheap and quick. But, DIY trusts aren’t designed for individuals with complicated financial and personal situations.
  • 3 reasons to create a living trust during a pandemic  
    Details
    The public health crisis that has been created due to the COVID-19 pandemic has gotten a lot of people thinking about creating an estate plan or updating their current plan.
  • Why you need an attorney for a living trust  
    Details
    There are a variety of DIY estate planning documents online, in books, and generated by software. But, do you want to take a chance on a one-size-fit-all solution when planning for your estate?
  • Updating your living trust in 2021  
    Details
    If you’ve had any significant changes in your life during 2020, make plans to review your living trust to determine whether you need to amend or revoke your trust to reflect those changes.
  • Helping mom and dad set up a living trust  
    Details
    Setting up a living trust for your parents ensures that their finances are protected and managed propetly after their death.
  • When to update a living trust  
    Details
    The general recommendation for updating a living trust is every three to five years, but it should also be updated if you’ve had a major life-changing event, such as a marriage or divorce.
  • Living trust maintenance tips  
    Details
    Living trusts have become increasingly popular when people are preparing their estate plans because of the benefits that they offer. However, they must be properly maintained to avoid problems in the future.
  • Searching for your family’s living trust documents?  
    Details
    People who have lost parents to COVID-19 are not only dealing with the shock and grief from their loss, but they may have to settle the estate of one or both parents. It’s a problem if they don’t know the location of estate planning documents.
  • How to add assets to your living trust  
    Details
    If you’re creating a revocable living trust, the process involved in adding assets to it is dependent upon the type of assets that you’re transferring into the trust.
  • Where to store living trust documents  
    Details
    When deciding where to store your living trust and other estate planning documents, the goal should be to store them in a secure, yet accessible place.
  • What can’t you put in a living trust  
    Details
    While many of your assets can be used to fund the trust, there are some which you should not use to fund it. But then what happens to assets not in the trust?
  • Living trust documentation preparation  
    Details
    If you’ve decided to create a living trust as part of your estate plan, you’ll need to spend some time gathering information for document preparation…
  • What to do if you can’t find the original living trust documents  
    Details
    The grantors of a trust often serve as the original trustees, and, therefore, keep possession of their original documents. So, what happens if the trust can’t be found after they’ve died?
  • Who gets to see the living trust  
    Details
    When a family member dies, settling their estate can present some challenges for their survivors. If the decedent had a living trust who gets to see it?.
  • How do living trusts and pour-over wills relate  
    Details
    A pour-over will is necessary if you’ve created a living trust as part of your estate plan. It acts as a safety net, capturing any assets and property that haven’t been transferred to the trust during your lifetime and ensuring that they are placed into the trust after your death….
  • How you can terminate a trust in California  
    Details
    Once the duties of the trustee are completed, a trust can be terminated. In California, you need to pay close attention to probate laws, trust laws, and tax liability…
  • Are there cheaper alternatives to living trusts  
    Details
    While there are cheaper alternatives to living trusts, it’s important to review the possible options with respect to the costs and their benefits vs setting up a living trust…
  • Want to learn more about living trusts  
    Details
    Attending seminars about living trusts can be a good option for individuals who are looking for solid, reliable information….
  • What property should go in a living trust  
    Details
    A living trust is an estate planning option in which your assets are put into a trust for your benefit throughout your lifetime. While the majority of your assets can be placed in your living trust, there are certain assets that you may not want to place in a trust…
  • The most common living trust mistakes  
    Details
    Living trusts provide you with many benefits when compared to traditional wills. In addition to avoiding the time and cost of probate, they allow you to have all of your assets covered in a single document and to name your own successor trustee. But, there are some common mistakes that can end up preventing a trust from working in the way that it was intended…
  • Can any type of attorney create a living trust?  
    Details
    An estate planning attorney provides advice and guidance when it comes to choosing the right estate planning option for maintaining your estate after your death or if you should become incapacitated. . .
  • Living trusts for single individuals  
    Details
    If you’re widowed, divorced, or unmarried, setting up a living trust can help to reduce the anxiety and stress of not knowing what’s going to happen to your assets when you die. . .
  • The cons of qualified personal residence trusts  
    Details
    A Qualified Personal Residence Trust (QPRT) allows you to remove your residence from your taxable estate while giving you the right to use it for the retained income period of the trust. However, there are several negative aspects to this type of trust .
  • Common problems with living trusts  
    Details
    While it’s important to establish a living trust, you can run into complications and problems that can interfere with or even invalidate the transfer of your assets . . .

Disclaimer

The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. We invite you to contact us and welcome your calls, letters and electronic mail. Contacting us does not create an attorney-client relationship. Please do not send any confidential information to us until such time as an attorney-client relationship has been established.