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SPIEGEL & UTRERA, P.A.

LAWYERS
FORM YOUR ENTITY ONLINE!

PAYMENT IS NOT REQUIRED

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Individual Living Trust(s)

Individual Living Trust(s)

$499.95

Why the living trust?

An individual living trust is a legal arrangement where an individual (grantor) places their assets into a trust during their lifetime, managed by a trustee, for the benefit of themselves and designated beneficiaries. The trust provides a framework for managing and distributing assets, avoiding probate, and ensuring privacy.

An Individual Living Trust offers probate avoidance, control, and privacy in asset distribution during and after one’s lifetime, providing flexibility, ease of administration, and protection from creditors.
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Considering an Individual Living Trust?

  • Avoiding probate: If an estate goes through probate, the court determines assets, marshals them, and disposes of them according to the Last Will or state statutes. The Individual Living Trust avoids probate by owning Trust assets.
  • Isolating Liability: Using multiple Individual Living Trusts for family members prevents liability spillover. For instance, separate trusts for Daughter and Son Smith avoid legal issues affecting each other.
  • Ease of administration: Avoid probate costs for real estate by having it pass at the decedent’s death within the Trust, unless distribution to the decedent’s estate is needed.
  • Revocability: Modify the Individual Living Trust document while alive, providing flexibility in estate planning.
  • Privacy Preservation: Keep personal asset transfers private within the trust, distinguishing from the exposure in a Last Will and Testament through probate.
  • Checkbook Control: Control beneficiary spending by limiting distributions to health, maintenance, and education issues.
  • Management After Death: Allow accumulated wealth to grow for generations under a chosen successor trustee.
  • Creditor Protection: Protect trust beneficiaries from creditors attaching interest before actual distribution of money or property.

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Living trusts, prized for probate avoidance and streamlined asset distribution, see increasing popularity as individuals seek alternatives to conventional wills. Recognizing the advantages of heightened control, flexibility, and privacy in estate management, people are drawn to these trusts. Stay informed for optimal estate planning.