A Living Trust also states your decisions if you become medically incapacitated during your lifetime; who will make decisions about your property and other items; who will act as guardian of your children.
Whether to have a will is an individual decision. A will can direct who gets your assets. A Pour-over Will, as part of an estate plan, is a safety net that puts any assets (up to a total value of $150,000) into the living trust if you have not done so. Having a will can also limit the time creditors have to file a claim against the estate. It can name a guardian to care for your children, name an executor, and specify how debts will be paid.
Revocable Living Trust:
Living Trust Package:
The Living Trust is presented to you in a binder with dividers, and is printed on bright, acid-free paper. One residential deed transferring property into the trust is included.
If you have any questions regarding living trusts & wills, reach out to us. We’d love to answer any questions you have, and help clarify things for you.
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