For most people, writing a will is enough to ensure that your belongings go to the people you choose after you pass away. But what if you want more control over your estate, have complicated assets, or just want to spare your loved ones the time and expense of going through probate? In some cases, a living trust may be a better option, ensuring that your wishes are respected after you’re gone and simplifying the process for those you leave behind.

A Quick Guide to Living Trusts

What Is a Living Trust?

A trust is a completely separate legal entity that takes possession of all of your assets, which are used for your benefit. While you’ll still have access to all of your belongings, the trust will actually own your vehicle, investments, and any other assets you wish to include. After your death, the trust can be dissolved and the assets distributed according to your instructions, or another beneficiary can take control and continue managing the estate.

What Are the Advantages?

Unlike estates subject to a will, living trusts don’t have to go through probate, which can save your loved ones a great deal of time and money. This might be especially important for those with property in several different states, whose beneficiaries might have to go through probate in each jurisdiction before the assets can be distributed. A living trust also gives a greater degree of control over your assets, so you can distribute them to the beneficiaries over time or put conditions on the inheritance of your property.

How Do I Set Up a Living Trust?

Establishing a living trust is a complex process that requires careful planning and detailed legal expertise. If you’re considering putting your assets into a trust, talk to an experienced attorney who will identify any potential issues, plan for the unexpected, and make sure that your estate planning documents clearly express your final wishes.

For more than a quarter century, the legal team at Woodlawn Law Offices has provided personalized legal services to clients throughout the O’Fallon, MO area. Whether you’re writing a will or want to establish a living trust, their attorneys will provide peace of mind and an estate plan tailored to your needs. Visit their website for an overview of their estate planning services, or call (636) 240-6667 today to schedule your free initial consultation.