What is a Living Trust?
A living trust is a legal arrangement that places your assets under the control of a trust, which you can manage as the trustee during your lifetime. Upon your passing, the assets in the trust are distributed according to your instructions—without the delays and costs of probate.
Benefits of a Living Trust
- Avoid Probate: Your assets bypass the probate process, ensuring faster distribution to your beneficiaries.
- Maintain Privacy: Unlike wills, living trusts are not public documents, keeping your affairs confidential.
- Plan for Incapacity: A living trust allows a trusted successor to manage your assets if you become unable to do so.
- Flexibility: You retain full control of your trust, allowing you to modify it as your needs change.
