What does a living trust do? A simple guide
Planning for the future can feel overwhelming—but it doesn’t have to be. A living trust is a tool that helps you protect your assets, provide for your family, and keep your affairs private.
What Is a Living Trust?
A living trust is a legal arrangement where you place your assets—like your home, bank accounts, and investments—into a trust during your lifetime. You can still use and control these assets as usual. When you pass away or become incapacitated, the person you’ve chosen as your successor trustee steps in to manage and distribute your assets according to your wishes, without the need for probate court.
What Does a Living Trust Do?
- Avoids Probate: Assets in a living trust pass directly to your beneficiaries without going through the court-supervised probate process, which can be time-consuming and costly.
- Provides Privacy: Unlike a will, which becomes a public record during probate, a living trust remains private, keeping your financial matters confidential.
- Manages Assets During Incapacity: If you become unable to handle your affairs due to illness or injury, the successor trustee can step in immediately to manage your assets without court intervention.
- Ensures Clear Distribution: A living trust clearly outlines who inherits what and when, reducing confusion or conflict among family members.
Who Should Consider a Living Trust?
Living trusts are helpful for anyone who wants to:
- Keep their estate private
- Help their family avoid probate delays
- Ensure assets are managed if they become incapacitated
- Provide clear instructions for asset distribution
How ElmTree Law Can Help
Setting up a living trust can feel complex, but it doesn’t have to be. At ElmTree Law, we guide you step by step, making estate planning approachable and tailored to your family’s needs. We help you protect what matters most while keeping the process simple and stress-free.