Don’t let your family go through the lengthy and expensive process of probate. No matter your income or value of your assets, you need to have a plan to protect your family. Keep more of your wealth and assets in the family and avoid expensive court proceedings with a revocable living trust.
A Revocable Living Trust is designed to help you properly plan and protect your estate. No matter your net worth, it's important to have a basic estate plan in place. Such a plan ensures that your family and financial goals are met after you pass away. Passing your wealth on to your heirs through your estate requires more than just a will, especially if your goal is to protect your assets from estate taxes and avoid probate.
A Revocable Living Trust is a flexible estate planning tool that can be used in three ways: while you are living, in the event that you become incapacitated, and how your property will be directed after your death. The list of property types that can be held in your living trust is almost endless; your personal residence, personal bank accounts, jewelry, intellectual property, furnishings, life insurance, works of art, and collectibles.
The revocable living trust is called a "Living Trust" because it is operative while you are alive – as opposed to a will – and is a separate legal 'person' in the eyes of the law. Having a revocable living trust solves the problem of estates that have much of their assets held up in real property, and are normally tied up in probate.
Advantages of a Living Trust
Revocable Living Trusts offers many advantages including avoidance of probate and privacy protection. Creating a Revocable Living Trust can save your estate thousands of dollars. The simple fact is…you may not see the benefits of having a living trust; however, your family will!
One of the most important benefits of having a living trust is avoiding probate. Probate is the process of court proceedings through which your assets are distributed according to your wishes by the executor. Probate can be very expensive in government fees and legal expenses, and your assets could be tied in the legal process for several months to years. However, having a living trust avoids the whole process allowing for faster distribution of assets to your heirs.
Asset Protection and Privacy
Another benefit to a living trust is privacy. Placing assets in the trust may provide a shield to the owner's identity. A will is public record and so all transactions on behalf of the will are public as well. On the other hand, a living trust is not made public, and upon your death, your estate will be distributed in private. It is also important to note that a living trust is valid in every state. Even if you own out-of-state property, probate can be avoided with a living trust.
Estate planning is one of the most important steps any person can take to protect their assets. No matter what size of estate you have, there are many benefits that can be reached through creating a living trust.
Give us a call at 1-800-508-1729 to get started with your living trust today!
*Legal Disclaimer – Nevada Corporate Headquarters, Inc. has prepared the content of this website for informational purposes only. It is not legal advice. Our legal services are provided by an in-house independent Nevada law firm.*