A GUIDE TO LIVING TRUSTS
I have a will. Isn't that enough?
Who Should Write My Living Trust?
What is probate and why should I avoid it? What are the benefits of a Living Trust? More information on living trusts Only an attorney should write a living trust. An experienced estate planning attorney can provide valuable guidance for your individual situation. A trust is a legal document and only an attorney can ensure that the document is appropriate for your situation and conforms to state law. Avoid "do-it-yourself" kits and form books. Only an attorney is authorized to give you legal advice and you should receive legal advice in preparing your living trusts. If I Have A Living Trust, Do I Still Need A Will? A living trust is only part of a complete estate plan. You should have a pourover will, which "catches" any property you may have overlooked in funding your trust and places the property in your trust at your death, unless your assets exceed the probate criteria. This ensures that your plan of distribution is followed, even if you accidentally overlooked something. Your attorney may suggest other legal documents as part of your estate plan. Are Living Trusts New? Living trusts have been used for hundreds of years and due to an increase in public awareness, are becoming the modern day approach to avoiding the pitfalls of a will and probate. How Can I Learn More About Living Trusts? Talking to professionals who are skilled in the preparation of living trusts can answer many of your questions. To speak with someone for more information about living trusts, please call (847) 381-8700 or email us at: JLucas@LucasLaw.com © 2007 Joseph M. Lucas & Associates, L.L.C. |
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