Life is unpredictable but there is not much you can do about it, except prepare for the inevitable. Worry for our loved ones always remains at the back of our mind. But preparing a safety net for your family is advisable to ensure that they don’t fall victim to the adversities of life. While making a will has become common practice, many are opting for a Living Trust instead. Before we discuss how our living trust lawyers can assist you in securing your family’s future, let’s have a run-through on how a living trust can be beneficial for you.
Why Should You Opt For A Living Trust?
A Living Trust will provide lifetime security as well after-death security to your family and effective property and estate management. It is a written legal document through which your assets are secured in a trust for you as well as your loved one’s benefit. After your death, you can choose a “successor trustee”. While you can access assets enlisted in a will only after a person has passed away, a living trust can be accessed even in your lifetime.
Your assets and any financial dealings will be passed on to the legally assigned successor upon your death or if your cannot manage your financial, health-care or legal affairs due to incapacity. You can benefit by either opting revocable living trust or irrevocable living trust. You can revoke your revocable trust anytime you want and will have access to your assets as the trustee of your living trust. The assets will reach your beneficiaries without going through the straining process of probate upon your death.
An irrevocable trust will allow you to irrevocably distribute your property and estate during you lifetime. You will have no control over your assets in this case but this option is opted only in rare cases. A living trust will ensure that your loved ones do not have to go through hassles of paperwork and can benefit from your scrupulous future planning.
Living Trusts and Wills Lawyers in Boca Raton
Now that you have a general gist of how a living trust is beneficial, you need the right aid to guide you through it. Although many attempt to DIY the living trust process, it’s not always advisable to gamble with your assets. Living trust attorneys can assist you with formulating the accurate documents to ensure that your property and estate are distributed without any setbacks.
Living Trust lawyers will ensure that your financial details remain private and strategies to avoid probate are also created. We are a zealous group of living trusts and wills lawyers in Boca Raton, all lawyered up to ensure that your transition through life is smooth.