The Benefits of a Living Trust
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Barrington, Illinois Living Trust Lawyer

Attorney for Living Trusts and Avoiding Probate in Palatine, Cary and Lake Zurich

The law provides an answer to the problem of tying up your estate in probate proceedings after you die. It is called a living trust and it looks a lot like a will. A trust avoids probate and serves your needs during your lifetime as well as after your death. A properly drafted living trust can simplify all of your estate planning goals.

  • A living trust becomes the owner of your property. The trust is administered by the trustee and you may be your own trustee. If you become unable to act as trustee, the trust can contain language that automatically names a successor trustee to act for you.
  • Since you have transferred ownership of all your property to the trust, there is nothing for the probate court to control - either during your life or after your death. The trust owns all of your property for your benefit. You are in the control - even if you are not the trustee - since you may revoke the trust at any time.
  • You must transfer your property to the living trust to avoid probate. The process of transferring property to a living trust is not difficult at all. Seek the assistance of a qualified estate planning attorney.

Nearly Everyone Can Benefit From A Living Trust

Nearly anyone can benefit from having a living trust. People with children may especially enjoy the comfort of knowing their children will be financially secure through the use of a living trust. But whether young or old, married or single, wealthy or of modest means, a living trust may be useful to you.

You Can Choose Anyone You Wish To Become Trustee

Anyone who is of legal age can be your trustee. Most of our clients choose a relative or family member to be trustee. Many people choose to name a bank trust department as trustee or co-trustee, in order to ensure professional asset management of their investments. Corporate trustees charge a fee for their services. Careful consideration should be given as to your choice.

The Costs Of A Living Trust Is Usually Less Than The Cost Of Probate

The cost of a living trust will vary, just as the cost of anything else varies. However, when compared to the costs of probate, the expense in preparing a living trust is very reasonable. For more information about how a living trust can work for you, contact the estate planning lawyers at our Barrington, Illinois office at 847-381-8700. We serve Cook County, Kane County, McHenry County and Lake County.

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