TRUSTS

THINKING ABOUT COMPLETING YOUR WILL TODAY? HERE'S WHY YOU SHOULD.

Planning for the distribution of assets at death is a great way to take care of your family. While there are many ways to do this so you should explore every option and consider the type of estate planning that’s appropriate for your situation. One device is a Living Trust, sometimes called a “Revocable Living Trust”. This may be a good idea for some, but not for others.

A Revocable Living Trust is a trust that a person, called the Grantor or Settlor, creates, funds, and retains control over during his or her lifetime.  It is an alternative to a Will, meaning that it directs to whom your assets will go when you die.  Why would you choose a Living Trust over a Will?  Some of the often-cited advantages include:

  • Avoid the cost and potential delays of the probate process;

  • Reduce taxes;

  • Privacy; and

  • Plan for your incapacity during your lifetime.