A Living Trust Is The Most Economical Way To Own Property
Probate costs in the thousands and excessive attorney fees can cost your family much of the hard-earned money that can be transferred to your loved ones, most economically using a revocable living trust. The most common objective of creating a living trust is to avoid probate, which is the legal process of settling a decedent’s debts and distributing remaining assets to beneficiaries. This could shave weeks or even months off of the process of distributing a decedent’s assets.
The most private way to handle your affairs is by setting up a living trust. Some people choose to create a living trust in order to keep the proceeding private. While assets distributed through the probate process become public record, those in a living trust remain confidential.
Koch & Associates guides clients through the process of creating and funding a revocable living trust. If you are uncertain whether a living trust is the right solution for you, we can review your situation and explain your options clearly.
A living trust is a sophisticaed legal document that allows you to have more control over your affairs than any other document.
Funding A Living Trust
Like all trusts, it is necessary to transfer assets into a living trust once it is created. You may put real estate, life insurance, bank accounts, business assets and other assets into a living trust. Depending upon your objectives, you may want to place all of your assets in a living trust or only some. Our experienced lawyers can help you determine what is right in your situation.
The creator of a revocable living trust has control over it during their lifetime and can change the trust at any time.
You may have heard that a living trust replaces a will, but this is not a certainty. In most cases, people who create a living trust also have a will.
We Can Help You Create A Living Trust
We welcome the opportunity to review your situation and recommend an effective course of action. We help clients throughout greater Chicago from our office in Cicero, Illinois. Call 708-683-9097 or use our online contact form to schedule a meeting.