How Can A Trust Avoid Probate?
What is a Trust?
A Trust is a legal entity and so are you. In most cases Trusts are created to hold assets for the creator of the trust. Anything you transfer from your own ownership to the ownership of the trust becomes property of the trust.
Many legal experts believe that the foundation for a solid estate plan starts with a Living Trust.
How can a trust avoid probate?
A Trust avoids probate because after your death the trust continues to live on as a legal entity, thus bypassing probate altogether. The Trust can have special instructions that have to be followed about dispersing your assets to whomever you want them to go to. Leaving the courts out of your personal business and leaving your business out of public record.
If the Trust holds my assets then will I lose control of what belongs to me?
No. As the creator of the Trust you control and can make changes to the trust at any time. The trust is created for your benefit and you direct how the assets of the trust are dispersed during life and ultimately after your death.
The following are the benefits of a Living Trust:
It can virtually hold all or be the recipient of all your assets.
It also contains clearly defined distribution instructions
As the creator or holder of the trust you can do as you wish with the contents of the trust.
You control and can make changes at any time.
The contents of the trust can pass privately and directly to your beneficiaries, thus avoiding the problems associated with probate and improper planning.
You direct when, where, and how your assets will be distributed upon your death
To get a Free Report on Estate Planning please go to: www.MyEstatePlanningMadeEasy.com
This article is not legal advice but is intended for informational purposes only.
A Trust is a legal entity and so are you. In most cases Trusts are created to hold assets for the creator of the trust. Anything you transfer from your own ownership to the ownership of the trust becomes property of the trust.
Many legal experts believe that the foundation for a solid estate plan starts with a Living Trust.
How can a trust avoid probate?
A Trust avoids probate because after your death the trust continues to live on as a legal entity, thus bypassing probate altogether. The Trust can have special instructions that have to be followed about dispersing your assets to whomever you want them to go to. Leaving the courts out of your personal business and leaving your business out of public record.
If the Trust holds my assets then will I lose control of what belongs to me?
No. As the creator of the Trust you control and can make changes to the trust at any time. The trust is created for your benefit and you direct how the assets of the trust are dispersed during life and ultimately after your death.
The following are the benefits of a Living Trust:
It can virtually hold all or be the recipient of all your assets.
It also contains clearly defined distribution instructions
As the creator or holder of the trust you can do as you wish with the contents of the trust.
You control and can make changes at any time.
The contents of the trust can pass privately and directly to your beneficiaries, thus avoiding the problems associated with probate and improper planning.
You direct when, where, and how your assets will be distributed upon your death
To get a Free Report on Estate Planning please go to: www.MyEstatePlanningMadeEasy.com
This article is not legal advice but is intended for informational purposes only.
