A living trust is a written legal document through which your assets are placed into a trust for your benefit during your lifetime and then transferred to designated beneficiaries at your death by your chosen representative, called a trustee.
If you’ve ever wondered why you would put your house in a trust, you’re not alone, but it does have a few benefits. Most people think that if they simply own their homes, it’s enough. However, if you’re older and your home is of significant value, you might want to protect your family from a lengthy probate process after your death.
The main benefits of a trust is that it allows your family to avoid a lengthy and costly probate process, it provides privacy as a living trust is not made public, and you get to determine how you would like your estate to be distributed.A properly drafted Trust will contain all provisions required for the management of your assets and for ultimate distribution after your death. Every situation is unique and here at DDV Law, Ltd. we look forward to working with you to ensure peace of mind in the establishment of trust as the foundation for your estate plan design.