A Living Trust Offers Privacy Did you know that a living trust offers privacy benefits? Many people are looking for a way to keep their estate planning affairs private and hidden from the general public. Creating a living trust can be a great way to do so. If you want to create a living trust, speak with an estate planning attorney today. The information outlined in your will is made public during the process of probate. This means that anyone can have access to your financial affairs. Why is this information available? This is information is made public so that it’s easier for creditors and beneficiaries make claims. This can create personal and financial safety problems for your beneficiaries. To avoid these problems, some people choose to create a living trust. With a living trust, you’re able to choose how your assets will be distributed in a less public way. A living trust is a private legal document. This means that only those who you’ve entrusted will have access to its information. A living trust offers a way for you to title certain assets in the name of your trust. After your death, your trust’s instructions will be used to distribute the trust’s assets to your chosen beneficiaries. The trustee that you name will be responsible for handling these duties. A living trust also offers additional benefits: Because the assets in your living trust avoid probate, your survivors will be able to save time, money, and hassle. A living trust can be used during your incapacity (i.e. disability.) This means that a trusted loved one will be able to help you manage your financial affairs during your time of need. You can easily revoke or make changes to your living trust. A living trust offers privacy and can be a great addition to your estate plan. If you are considering creating a living trust, consult with an estate planning attorney. Experienced estate planning attorneys Seattle WA of the Byrd Garrett PLLC offers estate planning and business planning resources to residents of Seattle WA. To learn more about these free resources, please visit www.byrdgarrett.com today.
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