Living trusts have received a lot of attention lately. There are few of us who have not received an invite in the mail to attend a seminar that promotes living trusts. Do you know if you should consider using a living trust in your estate plan?
A living trust is a legal document that you create during your life. The trust “holds" and manages your assets during your life, and can distributes them upon your death, much like a will. You appoint a trustee to manage the trust assets. The following are some of the most common reasons to consider when contemplating the use of a living trust.
A living trust is not for everyone. If you think that any of the above listed reasons for considering a living trust applies to you, you should contact an estate planning attorney to discuss your estate planning goals.