What is a Living Trust & What are the Benefits?

 A living trust is a legal document that, just like a will, contains your instructions for what you want to happen to your assets when you die. But, unlike a will, a living trust avoids probate at death, can control all of your assets, and prevents the court from controlling your assets if you become incapacitated. What are some benefits to having a living trust? 

• Avoids probate at death, including multiple probates if you own property in other states
• Can control who gets your property and how they get it
• Provides maximum privacy
• Quicker distribution of assets to beneficiaries
• Can reduce or eliminate estate taxes
• Inexpensive, easy to set up and maintain
• Can be changed or cancelled at any time
• More difficult to contest
• Can protect dependents with special needs
• Prevents unintentional disinheriting and other problems of joint ownership
• Peace of mind

Should I have an attorney do my trust? Absolutely, but not every attorney can do the job correctly. A local ABQ attorney who has considerable experience in living trusts and estate planning will be able to give you valuable guidance and peace of mind that your trust is prepared and funded properly. We’ve seen many “Do It Yourself” Trusts. We haven’t yet seen one that can positively compare to those done by a competent Estate Planning Attorney. ​
 Click to schedule an appointment or call our office now, we are always ready to discuss your legal concerns.