What is the importance of Living Trusts?
- Avoids probate: Living trusts can help families transfer assets without going to court. Probate can be a long and costly process, and legal fees can significantly reduce the value of an estate.
- Saves money: Living trusts can help you manage your property and save on property taxes.
- Asset protection: Revocable living trusts can provide some asset protection.
- Control and flexibility: Living trusts allow you to specify how your assets are managed and distributed.
- Legal protection: Living trusts can protect families from extensive court oversight.
- Privacy: Living trusts keep the disposition of the estate private
