Many people do not consider the possibility of creating a trust because they harbor misconceptions about the administration process. In this post, we will share five key facts that will help you understand the value and relative simplicity of living trusts.
You act as the trustee.
One of the most important things to understand about the living trust is the fact that you act as the trustee while you are living. You have complete control of the assets every step of the way, and you retain the power revocation, so you can dissolve the trust entirely if you choose to do so.
After the terms have been established, you can change them in any way that you see fit, and you can convey property into the trust after it has been created and initially funded.
You can name a disability trustee.
This is not a very pleasant subject to contemplate, but as elder law attorneys, we have to confront difficult situations that our clients may face. According to the seminar page, and when you identify the session you would like to attend, follow the simple instructions to register.
Need Help Now?
If you have already decided that it is time to work with a Glastonbury, CT estate planning attorney to put a plan in place, we are here to help. You can send us a message to request a consultation appointment, and we can be reached by phone at 860-548-1000.
Mr. Nirenstein is licensed to practice before the courts of the State of Connecticut and the United States District Court. He is a member of the Connecticut and Hartford County Bar Associations, and the Estate and Probate, Elder Law, Business Law and Real Estate Sections of the Connecticut Bar Association.
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