West Hartford, Connecticut
968 Farmington Ave., Ste 208
W Hartford, CT 06107
(860) 251-9552

4 Benefits of a Living Trust October 5, 2017

West Hartford, Hartford County
4 Benefits of a Living Trust, West Hartford, Connecticut

Increasingly, Americans are including living trusts in their estate plans. As opposed to traditional trusts, living ones allow individuals to streamline the legal process, transferring assets to relatives faster and simpler than before. In some cases, it may even save money. If you’re planning your estate, there are several reasons to ask your attorney about the advantages of living trusts.

4 Key Attorney-Approved Living Trust Benefits

1. Avoid Probate

Probate law is the legal process of distributing a deceased person’s estate in state court. Often, probate amounts to a lengthy, arduous, and potentially expensive process. This may also delay the transfer of assets to beneficiaries. Fortunately, the distinct terms associated with a living trust can help you avoid probate altogether.

2. Save Money

If someone contests the distribution outlined in your estate, a living trust offers greater protection than a traditional one. To prevent your loved ones from spending money to fight a contestation, opt for a living trust. Plus, you also save money by avoiding probate expenditures. 

3. Preserve Privacy

attorneyMany people feel uncomfortable with their personal details being shared in public court. When you avoid probate, you don’t have to worry about your private matters becoming public record. 

4. Plan for Potential Issues

Unlike traditional trusts, living trusts help protect you if you become mentally or physically incapacitated. If you’re diagnosed with dementia or suffer from a severe stroke, for instance, your living trust would include appointees of your choosing to care for your financial needs and well-being. Otherwise, the court will appoint someone. 

 

It’s never too early to begin planning your estate. If you’re interested in learning more about living trusts, consult the experienced estate planning attorneys in West Hartford, CT. Schedule a consultation with Keily Mira Law when you call (860) 251-9552. For more information about the attorneys, visit the website. You can also connect with the team on Facebook

Other Announcements, Events and Deals from Keily Mira Law
Hartford Estate Planning Attorney Explains What a Will Cannot Do, West Hartford, Connecticut
A will is the most basic estate planning document, and everyone should have one. Since you can update yours at any time, it is never too early to draft one; however, it is crucial to...read more
What Is Probate Court?, West Hartford, Connecticut
Probate law deals with wills and inheritance. A will in probate is in the process of being carried out and approved by the court. Depending on the size of an estate and whe...read more
3 Reasons You Need to Hire a Real Estate Lawyer, West Hartford, Connecticut
Buying a home takes a lot of time, patience, and dedication. And inexperienced homebuyers often make simple, yet costly, mistakes. Instead of trying to handle the process on your own...read more
Comprehensive Guide to Divorce Mediation, West Hartford, Connecticut
Divorce mediation is an informal negotiating process that aims to resolve disputes without having to resort to litigation. During mediation, an experienced divorce attorney can serve...read more