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Individuals may find it challenging to keep up with the constant updates and changes required, leading to potential confusion and complications down the line. Another aspect that draws complaints is the impact of transfer taxes and the need for refinancing when assets are transferred into a living trust.
The first, and most often used reason to have a trust is to avoid the probate process needed for a will. A living trust can avoid probate. A living trust can also help with passing assets on to your loved ones with greater ease of transfer. And a living trust can allow you to control assets after you die.
A trust is always the best way to organize and dictate the disposition of your assets after death, even if you have no children. A trust allows you to transfer your property and assets after death without the need for court intervention. Trusts can be for single persons, couples with no children, and families.
We charge $999 for a trust, which includes a durable power of attorney and living will, which is significantly less than a probate attorney will cost. Not only does it make sense in terms of dollars and cents, but making your wishes clear ahead of time avoids the emotional toll of family infighting.
Establishing and maintaining a living trust often involves a substantial amount of paperwork. Unlike a will, which may be simpler to execute, a living trust demands meticulous attention to detail and ongoing documentation. Maintaining accurate records is crucial for the success of a living trust.
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