A revocable living trust is a substitute for a will. A living trust may be more advantageous or less advantageous than a will. It depends on your circumstances and needs. During our initial consultation, we will discuss which tool makes more sense for you and your family.
Unlike a will, which is effective only at death, a living trust is set up while you are living. Typically, an individual who creates a living trust will re-title his or her assets (home, accounts, etc) into the name of the living trust. You have complete control of those assets while you are living. In your trust, you write instructions as to how your assets are distributed when you die. The advantage of a trust is that its existence is continual, and can provide a more orderly distribution of an inheritance (for instance, a small portion on an annual basis).
A living trust should be used to avoid probate if a conflict exists, if you own property in multiple states, have a blended family, and for other reasons. Your attorney should discuss whether a will or a living trust makes more sense for you during your initial consultation.
Wills and Trusts
Selecting the proper entity for any business venture is critical. Our firm can assist you in the planning and formation of General Partnerships, Limited Partnerships, Limited Liability Companies (LLC), or S Corporations. Depending on each client’s individual facts and circumstances, a “flow-through entity” may be the proper type of entity.
Comprehensive reviews of exsisting trusts
LLC, Corporations and Partnerships
Our office is experienced in both the probate of assets upon the death of the individual, and the administration of Revocable Living Trusts upon the death of each spouse and/or the sole Settlor of the trust.
Estate Management and Probate