Living Trust Lawyer Fort Collins, CO
If you need help establishing a trust, you should consult a living trust lawyer in Fort Collins, CO, William B. Moore. A lawyer can help you create a valid living trust and answer all of your questions.
Benefits of a Living Trust
A living trust allows you to maintain control over the assets in it during your lifetime. When you die, the successor trustee will distribute the assets to the designated heirs. Here are the benefits of a living trust:
- Avoid Probate: Probate is the legal process that proves the validity of an estate plan. However, probate is known for being a lengthy and expensive process. Your beneficiaries may have to wait over a year for their inheritances if there’s a probate. That’s one reason why you should consider establishing a living trust. Since your asses are kept in a trust rather than an estate, they can skip the probate process.
- Provide More Control of Distribution of Property: When you have a basic will, your property will be distributed immediately to your beneficiaries after your death. However, if you have a living trust, you can establish a trust within your living trust for a minor beneficiary. Once that minor becomes an adult, he or she can receive that property.
- Protect Your Children: Even if your children are adults, they may not be equipped to handle money. For example, if your child has a substance abuse issue, he or she may not be responsible enough to manage money. In this situation, it’s important to have a living trust. The trustee you appoint can hold the money in a trust and distribute it as needed.
- Provide Protection When You’re Alive: If you ever become physically or mentally incapacitated and can no longer manage your assets, you’ll be glad to have a living trust. The successor trustee you appoint can take over.
If you’re ready to create a trust, you should contact William B. Moore, a living trust lawyer in Fort Collins, CO. We provide free consultations after normal business hours and by Zoom.