Pre-Surgery Checklist: Create a Living Trust
Going into the hospital for major surgery is a scary time for many people. In addition to the pain and stress they may feel because of their medical condition, they may be concerned about the outcome. If this describes you, and you’re concerned about taking care of your loved ones, it may bring you peace of mind to plan your estate before having surgery. Statistically, you will probably be fine, but estate planning is a good thing to do no matter the circumstances. This may simply be an opportunity to get it taken care of with the help of a lawyer, like an estate attorney Cherry Hill, NJ relies on. We have helped many families get the peace of mind they need in knowing that their legacy will pass on to their loved ones in the ways that are important to them. Call us today to schedule a free consultation with a living trust lawyer from our firm to find out more. For your convenience, you can speak on the phone. If you decide to establish a living trust but are currently in the hospital awaiting surgery, our legal team can come to you.
The Value of a Living Trust
Living trusts are popular for many reasons. One of the primary attractions of a living trust is the tax advantages they offer your heirs when your assets are distributed to them after your passing. Here are some of the other reasons why many choose to create a living trust with the help of a trust lawyer:
- Assets that are part of a living trust do not have to go through the probate process. This can save money and time for your heirs, allowing them to receive your gifts that much faster.
- By avoiding probate, assets are passed to the heirs in private. Probate is a public legal process and so which assets pass to which heirs becomes public information.
- A living trust enables the creator of that trust, known as the grantor, to remain in control of the trust and its assets by naming themselves as the trustee.
- The trust’s grantor can specify who shall inherit which asset or assets, and if it should be all at once or over time. If an heir is a minor or is not adept at managing finances, a trust can be ideal.
- It is possible to make changes to the trust at any time. This includes adding or removing heirs, or changing the nature of the assets someone will inherit.
- The trustor can name someone as a backup trustor who will take control of the trust after the original trustor’s passing.
Talk to a Trust Lawyer You Can Rely On
An attorney can provide you with the peace of mind you deserve. Allow a skilled lawyer to explain their legal services during a complimentary consultation. Call an attorney today to arrange a brief meeting with a trust lawyer who you can rely on to make sure your legacy lives on.
Thanks to our friends and contributors from Klenk Law for their insight into estate planning.