Who should have a living trust?
Any estate over $100,000 or an estate with real property over $20,000 is the threshold to have a revocable living trust. In addition even individuals whose estate is below those amounts may have reasons to create a trust. If you want to leave your estate to charity or to non-relatives, you should have a revocable living trust to accomplish those goals. Revocable trusts are not only effective after death but have attributes that are important even before your death. The documents that are included in a trust package that deal with incapacity are critical in the event you are injured or temporarily incapacitated from a medical condition. These reasons alone may be sufficient to consider obtaining a trust. What is required to set up a Living Trust? Today you can find inexpensive trusts offered for download on the internet or in books or stationery stores. Setting up a living trust is a decision that can have important consequences in the future. Trusts are not one size fits all. There are
Summary of Living Trust Benefits I have a will. Why would I want a living trust? Contrary to what you’ve probably heard, a will may not be the best plan for you and your family — primarily because a will does not avoid probate when you die. A will must be verified by the probate court before it can be enforced.
Age, marital status and wealth don’t really matter. If you own titled assets and want your loved ones to avoid court interference at your death or incapacity, consider a living trust. You may also want to encourage other family members to have one so you won’t have to deal with the courts at their incapacitates or deaths.
Age, marital status and wealth do not really matter. If you own titled assets and want your loved ones (spouse, children or parents) to avoid court interference at your death or incapacity, consider a living trust. You may also want to encourage other family members to have one so you will not have to deal with the courts at their incapacities or deaths.
Age, marital status and wealth don’t really matter. If you own titled assets and want your loved ones (spouse, children or parents) to avoid court interference at your death or incapacity, consider a living trust. You may also want to strongly consider encouraging other family members to have one so you won’t have to deal with the courts at their incapacities or deaths. (Back to Top) 26.
