Why We Recommend Living Trusts For Our Clients
Effective estate plans should include a living trust, or revocable trust, agreement depending on the individual circumstances. This agreement, by definition, permits alterations while you are alive, but becomes irrevocable upon your death.
At TdD Attorneys at Law LLC in St. Louis, our lawyers understand the complexities involved with deciding how to divide your estate. Let our team help you develop a holistic estate plan that may include a will, a power of attorney, health care declaration and a living trust that allows you to maintain control of your assets.
Essential Benefits Of A Living Trust Agreement
A properly drafted living trust agreement can provide the following benefits:
- Avoidance of probate court: A living trust will spare your family members the pain and frustration of dividing your assets in court. Additionally, this provision allows the distribution of your assets to remain private.
- Estate taxes minimized or avoided: This benefit allows you to allocate your estate’s assets in a manner which takes the maximum advantage of estate tax exemptions.
- Substantial control over the distribution of assets: Allows you to maintain complete control over who receives your estate’s assets and how much they receive.
- Avoidance of court conservatorship: In the unfortunate event that you become disabled or incapacitated, this allows you to pre-appoint a trustee to manage your affairs. Without a trustee, your family could endure the expensive and frustrating process of working through probate court.