What Is A Living Trust Will?

A living trust will is a good way to keep an estate from going through probate. Basically, you transfer your assets to a living trust, which then owns your assets.

A living trust is a good way to keep an estate from going through probate. You transfer your assets to a living trust, which then owns your assets. The good news is that you can then appoint yourself as the trustee, and thus can control the trust as long as you live. When you die, the trust passes directly to your named beneficiary without having to pass through probate, as it would have to with a will.

But there are some things you have to keep in mind. Anything you purchase after the trust has been set up does not automatically go into the trust. You have to remember to transfer newly purchased assets into it. If you buy a new car, sell your home, buy a vacation home, place new money into certificates of deposit, all have to be transferred right away. Because, if you should die suddenly, and even with a will, if you did not transfer something into the trust, it will end up in probate anyway.

A living trust is private, while probate is a public process. With probate, anyone will be able to find out what assets you owned, what they are worth, and who is the beneficiary.



With a living trust, privacy is guaranteed.

Of course, jointly owned property, and property that has a designated beneficiary will not have to go through probate, even if it isn't placed in a living trust. So that might be a good option for anyone that wants to avoid lawyers, who have to be hired to make the living trust.

The best thing is to really research your options, and then you can make good decisions. Living trusts, although a good option, are not necessarily the best option for everyone.

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