There are a number of benefits of a living trust, including:
- Assets do not have to go through probate proceedings to pass to heirs
- Trusts can be confidential, whereas Wills must be publicized when they pass through probate
- Individuals have maximum control over their estates
- Living Trusts can reduce or even prevent estate taxes in many situations
- Trusts enable an individual to name a trustee who can make decisions about assets in the event of mental or physical incapacitation
- Assets placed in trust can in many cases be protected from creditors and legal actions
- You can easily amend your provisions with a simple Living Trust Amendment document
You can easily create a Living Trust or Joint Living Trust for free at RocketLawyer.com
Please note: This page offers general legal information, not but not legal advice tailored for your specific legal situation. Rocket Lawyer Incorporated isn't a law firm or a substitute for one. For further information on this topic, you can Ask a Legal Pro.
