Frequently Asked Questions About Living Trusts

Who should consider a Living Trust?

Anyone who wants to protect their assets, avoid probate, and ensure that their wishes are carried out after they pass away should consider a living trust.

How Much Does a Living Trust Cost?

The cost of a living trust varies depending on your location and the complexity of your estate. However, the cost is often significantly less than the cost of probate.

Can I Make Changes to My Living Trust?

Yes, you can make changes to your living trust at any time. You can add or remove assets, change the terms of the trust, or even revoke the trust altogether.

What Happens if I Die Without a Living Trust?

If you die without a living trust, your assets will go through probate and be distributed according to state law. This can be a lengthy and costly process, and your assets may not be distributed according to your wishes. In addition, the proceedings of probate are public record, which means that your family’s privacy may be compromised.

Do I Still Need a Will if I Have a Living Trust?

Yes, you still need a will even if you have a living trust. A will can provide for any assets that were not included in the trust, such as personal property. It can also name a guardian for minor children and an executor for your estate.

Anyone who wants to protect their assets, avoid probate, and ensure that their wishes are carried out after they pass away should consider a living trust.