What Are Living Trusts?
Many people establish living trusts as a way to protect and maintain control over their property and allow for ease in transferring that property to designated beneficiaries. A living trust can also help save money.
I am attorney Connie Yi. I can help you set up both a revocable living trust and an irrevocable living trust. Please call my San Francisco offices at 888-312-6978. I speak fluent Mandarin and Cantonese.
Understanding The Benefits Of A Living Trust
One of the main benefits of a living trust is that it allows property held in the trust to bypass the process of probate. Additionally, a living trust offers a greater privacy protection than a simple Will.
A living trust allows you to stay in control of your assets while you are still living, even in the event of incapacitation. Without a trust, the state may intervene and assume control over your assets. When you create a trust, your individual preferences will be stated and the state will have no control over the property held in the trust.
After your death, the property held in your living trust is managed by the trustee and distributed according to your preferences. It is important to work with an estate planning attorney when creating a trust to ensure that your wishes and preferences are documented.
Questions? Please Contact Me To Learn More.
If you want to learn more about a living trust vs. a will, or if you are interested in setting one up, please schedule a consultation today.