When you want to protect your family should something happen to you, then you want to think about a living trust. A living trust is a document that ensures an easy transfer of your assets through your designated trustee in the case of your passing on. It is also simple to create, especially if you choose to create yours using online living trust solutions. One of the biggest advantages of having a living trust in place is that it can prevent the process of probate from taking place, which can be an expensive process that can also take a long time. If you are unfamiliar with living trusts, then this short guide to them will help introduce you to them, and explain why you should make use of online living trust solutions.
You remain in control of your assets as long as you are alive and of sound mind
When you create a living trust, you will be the trustee for as long as you are alive. The only way this can change is if you should become incapacitated and are no longer able to handle the care of your property and assets. In the care of incapacitation, the successor trustee will be able to step in and begin managing the property covered in the trust. Should you recover and are once again able to handle the management of your own property and assets once again, then they go back to you. Should you pass away, then the designated trustee will take care of transferring the property and assets in the trust to those you named as beneficiaries in the living trust.
Most times, a living trust allows things to go smoothly and quickly
When you make an online living trust, or any living trust, then the entire thing can generally be completed in as little as just a few weeks time. The living trust ends as soon as the last of the property has been transferred into the names of the beneficiaries. Without a living trust, things may end up going through probate and this is best avoided for three main reasons. For one, the probate process can take a lot of time. Also, probate can become costly once all the fees are taken into consideration. Finally, you may not have liked the way things go with probate. With a living will, you can avoid these things and best of all, your wishes will be followed.
It's never too soon to take steps to ensure your property and assets are divided the way you want them to be. If you want to get started on your living will, then online living trust solutions make the whole process simple.