A Living Trust – Greene Estate, Probate, and Elder Law Firm

What is a Living Trust?

One of the most popular tools in estate planning is a “Living Trust” due to its flexibility. When a grantor creates a living trust, they can transfer ownership over their assets into the trust. The trust will allow the grantor to take control of these assets even when the ownership has already been transferred. Also, a living trust will allow the grantor to update, change or revoke during their lifetime.

Why You Need a Living Trust

Do you have children, or are you even looking forward to having another child in the future? Aren’t you close to your blood relatives, but are there other special people in your life? If the answer to any of the above questions is yes, then a living trust may be exactly what you are looking for

A living trust is a legal entity that holds assets, such as real estate. To protect your assets, you need to transfer ownership over your assets into a living trust. This will also avoid the complicated and expensive probate process.

You can protect your children or future children by including them in your living trust. Should you already have one, you can update your existing living trust to make sure no one gets left out.

In some cases, you may not know your relatives or dislike some of them. By creating a living trust, you can choose the person you wish to enjoy or act as an agent under your instructions.

How to Create a Living Trust

Creating a living trust is an important decision that needs careful and patient consideration. A living trust is a legally binding document that contains many terms. For these reasons, it is in your best interest to consult with an experienced estate planning attorney to make the best decision for you and your assets. To learn more about a Living Trust, schedule a consultation with our firm for the exciting journey of creating a Living Trust!