Providing Peace Of Mind
For You And Your Family

How a living trust can be a pathway to peace of mind

On Behalf of | Jul 7, 2024 | Wills And Trusts |

A living trust is one of the most powerful and flexible estate planning documents. It can prove invaluable during your lifetime and protect your preferences upon death.

You may know it as a tool to bypass probate, but it can do so much more for you and your loved ones. It is time to learn more about the benefits of a living trust.

Protection if incapacitated

If aging, injury or illness leads to incapacitation, a living trust allows for a seamless transition of asset management. The successor trustee you appoint in the trust can step in to manage your affairs without the need for court intervention.

Facilitates self-sufficiency

Your trust can be structured to manage and distribute assets for the benefit of you, the grantor, during your lifetime. Naming yourself as both the trustee and the beneficiary allows you to retain control over the assets and use them to help support yourself.

Shields your assets

A living trust can provide a degree of protection against creditors. The assets within are owned by the living trust and are generally not considered personal assets, protecting them from certain legal judgments.

Offers tax benefits

A living trust can minimize the impact of estate taxes. A properly structured trust may reduce the taxable estate, offering significant tax savings. Additionally, the strategic placement of assets within the trust may avoid hitting the federal estate tax threshold.

Control over your legacy

A living trust provides you with complete control over your financial legacy. You can specify exactly how your assets are managed and distributed to your beneficiaries, preserving your preferences.

These are just a few advantages a living trust can offer – someone who understands the nuances of estate planning can help you learn more.