What is a Living Trust and what is it used for ?

A "living trust" is legally in existence during your life, has a trustee who is currently serving, and owns property which (generally) you have transferred to it during your life. While you are living, the trustee (who may be you) is generally responsible for managing the property as you direct for your benefit. Upon your death, if properly structured  the problems with probate are greatly reduced since assets titled properly within the Living Trust are much less likely to go to probate.

Unlike a will, a Living Trust can also (a) provide you with a vehicle for managing your property during your life, and (b) authorize the trustee to manage the property and use it for your benefit (and your family) if you should become incapacitated, thereby avoiding the appointment of a guardian for that purpose.

What is the cost to create a Living Trust and who does the work?

 Usually $2,000 or less to set up. An Attorney and their staff are the ones that put your Living Trust together after determining your needs. We do not create your Living Trust. We have negotiated a discount on this price for existing clients.