Everything You Need to Know
Do you have a will? If not, you should definitely consider creating one. A will is a document that outlines your wishes for what should happen to your property after you die. However, there are certain situations in which a will may not be the best option. For example, if you have minor children, a will may not be the best way to ensure that they are taken care of after you’re gone. In this case, you might want to consider creating a living trust. We will discuss everything you need to know about living trusts!
The first thing you need to know about living trusts is that they are revocable. This means that you can change the terms of the trust at any time, as long as you are alive and of sound mind. You can also dissolve the trust entirely if you wish.
The second thing to know about living trusts is that they can be used to manage your property while you are alive. This is especially helpful if you become incapacitated and are unable to make decisions for yourself.
Hiring a lawyer to help you create a living trust is the best way to ensure that it is done correctly. If you have any questions about living trusts, be sure to ask your lawyer.
Finally, living trusts can be used to distribute your property after you die. If you have minor children, this can be a great way to ensure that they are taken care of according to your wishes.