There are two significant benefits that living trusts provide that get a lot of attention. One of them is the fact that you can include spendthrift protections for a beneficiary that is not ready to handle a significant inheritance. The trust would become irrevocable after your death, and the beneficiary would not be able to reach the principal. This would also apply to their creditors, so there is asset protection, and you don’t have to provide a lump sum distribution all at once. Another … [Read more...] about These Advantages Add to the Appeal of Living Trusts
joint living trust
Five Overlooked Benefits Living Trusts Provide
There are a few major benefits that living trusts provide that are widely publicized. One of them is the fact that the administration of a living trust takes place outside of probate. A will would be admitted to probate, and there are some negatives that go along with the process. Probate expenses absorb a portion of the estate before it is distributed, and the records are  available to the general public, so there is a loss of privacy. There is also a waiting game because no inheritances are … [Read more...] about Five Overlooked Benefits Living Trusts Provide
A Shared Living Trust May Be the Right Choice
If you are married, you and your spouse can choose to create separate estate plans, or you could alternately create a joint will or living trust. The right choice will depend on the circumstances and your ultimate intentions. A separate arrangement can make more sense if both parties have children from previous marriages and they are entering the union with their own resources. When partners have accumulated most of their assets jointly and they want to leave the property to one another, a … [Read more...] about A Shared Living Trust May Be the Right Choice
