What is a Living Trust?
A Living Trust is a legal entity to which you can transfer all of your property. Doing so saves you greatly on estate taxes and allows your estate to avoid probate. This saves your heirs a great deal of trouble while it preserves your family estate. Property is often tied up in probate for years! Avoid this by creating a Living Trust right now. Just contact me to get started.
Since a Living Trust is really a contract you are completely free to put your wishes into effect through the Living Trust, so long as those wishes are legal.
What Happens After you Create the Living Trust for Me?
Once a Living Trust has been created, you transfer all of your property into it. Though you no longer technically own any of the property you have transferred into your Living Trust, you, as its initial trustee, retain the right to buy, sell, and transfer any property that now belongs to your Living Trust.
What Happens with my Living Trust After my Demise?
Your Successor Trustee takes over. In the process of creating your Living Trust, you will choose a Successor Trustee. If you are married, this is usually your spouse. If you are single, you choose the person you normally would have chosen as your heir if you'd created a Last Will and Testament. If you are married, you also name an Alternate Trustee, and again this person is the one you would have chosen as heir in a Last Will and Testament.
Your Successor and Alternate trustee(s) hold the same rights you held in the Living Trust: in other words, s/he can also buy, sell, and transfer any property that belongs to what has now become your Successor Trustee's Living Trust. And at that point, your Successor Trustee becomes the Trustee and names a Successor Trustee of his or her own. And your Living Trust keeps on living this way for generations and generations.
Do I have to pay taxes when I transfer property to my Living Trust?
No. There are no tax consequences for the transfers of property between you and your Living Trust.
Does a Living Trust Protect Me in the Event I Become Incapacitated or Incompetent?
One of the documents in your Living Trust package we offer you is called a Durable Power of Attorney. This document basically spells out in detail what your wishes are should you become unable to look after your own affairs. In it, you name a loved one or someone else you know and trust to handle your affairs should you become incompetent. Without a Durable Power of Attorney, the Public Administrator could end up making decisions for you instead of someone you love, know, and trust!
How Does a Living Trust Help me in the Event I'm on a Life-support System?
One of the documents in your Living Trust package is a Directive to Physicians, or more commonly known as a Living Will. This document allows you to decide now while you are healthy and sound of mind whether you'd want to be kept alive by artificial means (life-support system) should you be unable to function on your own.
What if I Own Property That I Did Not Have time to Deed to my Living Trust Before my Demise?
Your Living Trust package contains a Pourover Will. This will simply states that everything and anything that belongs to you that is not already in the Living Trust at the time of your demise be automatically transferred into it in that event.
 Do you Really Want the Public Administrator to Take Over your Life Decisions and, or, the Probate Court to Tie up your Family Estate for Years?
Contact me Now or Call me at 702.562.4209 We can Easily and Quickly Create a Living Trust for You and Protect your Family!
* A Living Trust is a legal entity that outlives you (and your spouse), and by which you avoid estate taxes and probate costs.
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