Probate Attorney-Avoiding Probate Using Living Trust

No one wants to get their estate stuck in probate after they have died. Most people end up their estates, when the courts oversee paying debts and distributing assets. It can be cheap and time-consuming. Using a living trust is one way to avoid probate. Well, you can avoid this, so when you meet with wills and Athens probate attorney, make sure to ask them about their specific experiences and whether they have worked with many clients in your particular situation.  Be sure that you are also comfortable with your attorney. Here, it is explained, what a living trust is and how you can establish one.

• Avoiding Probate, Saving Time & Money

A living trust should not be considered same as will. With a simple living trust, you put your assets into a trust when you are still alive. Due to which, you get to manage the trust and can keep control over your own property and other assets.

There are some good reasons to move your assets into a living trust while you are alive, and the living trust can also help avoid probate once you are died. Through a living trust, your assets can be easily and quickly transferred to your beneficiaries once you have deceased, thus avoiding probate completely.

For instance, married couples with kids can set up living trusts for property they own together and separately. With a living trust, you can manage your assets if you should become incapacitated. When one spouse dies, the assets go to the other spouse, who is the trustee, in this   way the living trust has been set up.

• Creating a Living Trust

When you create a living trust, you become the grantor, settler or donor. Once the trust is established, you can transfer your assets to a person or anyone you like.

You will have to name a trustee during creation of your living trust. It can be you or your spouse, or you may want to designate a friend or family member.

A living trust is erratic, so you can always change it when you want to. If you don't modify it, then your living trust ends when you die. At that time, the trust becomes permanent and can't be changed.

• Working with Wills & Probate Attorney

You don't need to have a wills and lawyer to create your living trust, but it makes sense to talk to a probate attorney in Athens who focuses his practice on estate planning. There are many issues involved in a living trust, and state laws vary a lot. You want to be sure your trust is set up exactly the way you want it to be. Setting up a living trust requires you to think about a lot of tough issues, and you want your lawyer to understand your goals and make sure your assets stay out of probate. An experienced probate attorney in Athens Georgia can help you avoid complications with wills and probate.