Benefits of Living Trust Planning

As the use of the revocable Living Trust for estate planning has increased in popularity over the past two decades, it has been seen primarily as a planning tool to be used only by families with taxable estate.  While a revocable Living Trust can be designed to deal quite effectively with estate tax issues, its real superiority over other methods of estate planning focuses on planning for the myriad of non-tax family issues.

Many think of estate planning as the same as tax planning, but estate planning more fully encompasses issues far beyond the financial size of the estate.  The revocable Living Trust provides a means to meet the diverse and complex issues of both tax and family planning.

At Legacy Planning Law Group, we will work with you to help you figure out the issues that are important to you and your family and put a plan in place for you that addresses your needs.

Your Living Trust will not only help you pass along your assets,
but also your values...  A true legacy.

Some people think that if they don't have an estate worth over $1 million dollars, then they don't need a trust.  Tax planning for large estates can be an important motivating factor to do a living trust, however there are many other important reasons to use this type of planning.  Below is a list of some of the reasons to consider trust planning for your family.

Using Living Trust Planning...

• Avoids probate at death, including multiple probates if you own property in other states
• Prevents court control of assets at incapacity
• Brings all of your assets together under one plan
• Provides maximum privacy
• Quicker distribution of assets to beneficiaries
• Assets can remain in trust until you want beneficiaries to inherit
• Inexpensive, easy to set up and maintain
• Can be changed or cancelled at any time
• Difficult to contest
• Prevents court control of minors' inheritances
• Can protect dependents with special needs
• Prevents unintentional disinheriting and other problems of joint ownership
• Can be professionally managed with corporate trustee
• Can reduce or eliminate estate taxes
• And very importantly....  Gives you peace of mind

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