What are the Benefits of Creating a Trust?

If you are looking to have your assets and property transferred to your loved ones upon your death, you may want to consider creating a trust. Creating a trust can help you avoid many of the problems often encountered with a last will and testament. Through a trust, you will be able to have your assets in an account where the funds can be used by you throughout the duration of your life, and then transferred to your beneficiaries upon your death. Each trust must have a trustee who is responsible for seeing that its assets are distributed according to your final wishes.

Assets in a trust can avoid the lengthy probate process, which means your loved ones will receive the benefits of your estate in a more timely fashion. You are also able to assign guardianship for any minor children as part of your trust. Having a trust included as part of your estate plan can help you save money as well. This is due to the fact that the distribution of assets will not be required to go through probate thus incurring court costs or other fees. A will becomes a matter of public record upon your death whereas a living trust remains private, out of the sight of prying eyes.

Trusts are not necessarily right for everyone; however, there are many benefits to creating a trust. If you are looking at creating a trust, I advise you do so under the direction of an experienced estate planning lawyer. Having an attorney on your side who is committing to doing what is in your best interests will greatly increase your chances of being able to attain the results you are hoping to achieve. I have helped many people set up both irrevocable trusts and revocable living trusts, and I am ready to help you do the same.

To find out whether a trust may be right for you, contact a Baton Rouge estate planning lawyer at the Law Office of Wendra J. Moran right away.

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