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Trusts Estates-2

Trusts Estates-2

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Published by Richard Schneider
If you have started the process of estate planning, you realize that a living trust can benefit many estate plans.
If you have started the process of estate planning, you realize that a living trust can benefit many estate plans.

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Categories:Types, Business/Law
Published by: Richard Schneider on Jul 02, 2011
Copyright:Attribution Non-commercial

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05/12/2014

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What You Need to Know Regarding Living Trusts and Estates If you have started the process of estate

planning, you realize that a living trust can benefit many estate plans. But there are several issues involved with the creation a living trust that you need to know, including: If you have started the process of estate planning, you realize that a living trust can benefit many estate plans. But there are several issues involved with the creation of a living trust that you need to know, including: 1. A trust may not benefit each and every estate.

The primary benefit of a living trust is that it allows property owned by the trust to avoid probate, which is the court-supervised process that administers the estate of a deceased individual, referred to as the decedent. There are some estates that may actually benefit from this legal oversight, such as certain estates that have more liabilities than assets. 2. A living trust can help manage property if you become

incapacitated. A living trust not only distributes your property when you die, but can manage it in the event that you can no longer handle your finances on your own. When you create a living trust, you name a successor trustee

to take over the trust administration duties upon your death. The successor trustee can also step up to manage the property owned by the Trust in the event of your incapacity. A living trust can help the elderly who may be suffering from dementia issues avoid the public guardianship or conservatorship proceedings that may otherwise be necessary. A living trust attorney can assist you in determining if a living trust is right for your situation and needs. Experienced estate planning attorneys Portland OR of the Law Offices of Richard B. Schneider LLC offers estate planning and business planning resources to residents of Portland OR. To learn more about these free resources, please visit www.rbsllc.com today.

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