Living trusts are not just for times when a family member passes away. They can also address issues while they are still alive.
Avoid Guardianship or Conservatorship Proceedings
In case you become incapacitated, why subject your loved ones and your property to the restrictive rules of guardianship or conservatorship? Creating a living trust involves naming a successor trustee who can step in and manage the trust for you if you are no longer able to do so.
After following the trust’s provisions for determining your incapacity, your successor trustee can take control of your trust assets without the interference of the court.
Keep Things Private
Probate is a public proceeding. Anyone can go to the courthouse and take a look at each and every document filed there, including your will.
Trust documents are never filed with a court so they do not become a public record.