A lot of people who hear about the benefits of a revocable living trust are eager to create their own as soon as possible. But some have concerns that by creating a trust they will lose control over their property. After all, if a trust is a separate legal entity, won’t the trust itself become the new legal owner? While it’s true that creating a revocable living trust requires you to … read more
living trust
When You Need to Change A Living Trust in North Carolina
One of the great benefits of a revocable living trust is that the instrument is so flexible. Even though using a living trust requires you to perform some extra steps as you manage trust property, these are not so unwieldy that they make the trust unworkable. Some of the steps you need to take are fairly simple, such as keeping better track of your financial and property transactions … read more
Simple, Complex, Revocable, and Living Trusts: What is the Difference?
The world of estate planning is full of complicated and rarely encountered terms, especially when it comes to living trusts. For those who haven’t encountered these terms before, many of them can be somewhat confusing. This is especially true when you consider that the terminology that lawyers use isn’t necessarily the same terminology that the IRS uses when it categorizes trust for … read more
Why a Living Trust Goes Hand-in-Hand With a Will
All adults in Greensboro, North Carolina should take the time to create a last will and testament. But just because you create a will that doesn’t mean you can stop your estate planning efforts. Wills are necessary pieces of any estate plan, but they are not capable of meeting all of your needs. At the very least you will also want to create a revocable living trust that will go … read more
Living Trusts Can Help You Avoid Probate
For many people creating an estate plan, avoiding probate is a major goal. Having your assets transfer to new owners after you die without the requirement of going through probate can save your estate a lot of time and money. It can also offer you the opportunity to keep your affairs entirely private as probate documents are part of the public record and anything that goes on in a … read more
