"I Make House Calls! I believe that strongly that you MUST have a living trust to protect your assets, your estate, and your family" - James E. Smith
I have been creating living trusts for other folks just like you for more than 25 years. I am also regularly retained by high-end financial consultants and firms to create living trusts for their clients.
Call me now at 702-562-4209 to set an appointment for a free consultation. During the call, we’ll strategize the best course of action for you to protect your estate.
A Living Trust is a legal entity to which you can transfer your property, be that real estate or an art collection. Doing so saves you greatly on estate taxes and allows your estate to avoid probate. This saves your heirs a great deal of trouble while it preserves your family estate. Property is often tied up in probate for years! You can avoid that by creating a trust to save your family the headache of probate.
Once a Living Trust has been created, you transfer all of your property into it. Though you no longer technically own any of the property you have transferred into your Living Trust, you, as its initial trustee, retain the right to buy, sell, and transfer any property that now belongs to your Living Trust.
In the process of creating your Living Trust, you will choose a Successor Trustee; this individual takes over the management of the trust after your demise. If you are married, this is usually your spouse. If you are single, you choose the person you normally would have chosen as your heir if you’d created a Last Will and Testament. If you are married, you also name an Alternate Trustee, and again this person is the one you would have chosen as heir in a Last Will and Testament.
Your Successor and Alternate trustee(s) hold the same rights you held in the trust: in other words, s/he can also buy, sell, and transfer any property that belongs to what has now become your Successor Trustee’s Living Trust. And at that point, your Successor Trustee becomes the Trustee and names a Successor Trustee of his or her own. And your Living Trust keeps on living this way for generations and generations.
No. There are no tax consequences for the transfers of property between you and your trust.
One of the documents in your trust package is called a Durable Power of Attorney. This document basically spells out in detail what your wishes are should you become unable to look after your own affairs. In it, you name a loved one or someone else you know and trust to handle your financial affairs should you become incompetent. Without a Durable Power of Attorney, the Public Administrator could end up making decisions for you instead of someone you love, know, and trust!
One of the documents in your Living Trust package is a Directive to Physicians, more commonly known as a Living Will. This document allows you to decide now while you are healthy and sound of mind whether you’d want to be kept alive by artificial means (life-support system) should you be unable to function on your own.
Your complete trust package contains a Pourover Will. This will simply states that everything and anything that belongs to you that is not already in your trust at the time of your demise is automatically transferred into it in that event.
IN A FREE TEN-MINUTE CONSULTATION, WE CAN DETERMINE TOGETHER IF I CAN HELP YOU WITH YOUR LEGAL ISSUE
BONUS: I will quitclaim your house to your new trust at no cost to you.Get Started Now