One reason to consider using a living trust is probate avoidance. This document is an estate planning vehicle designed to make it easier for your loved ones to administer your estate whenyou die. When you transfer title to your assets into your living trust, those assets should not need to go through probate court administration after your death. Instead, your designated trustee manages and distributes trust assets according to the terms of your trust without the time, expense, or hassle that can come with a court proceeding.
This estate planning tool can also make it easier for someone to manage your assets if you become incapacitated during your lifetime. When the trust holds title to your assets, your designated trustee can manage those assets on your behalf without obtaining a conservatorship over your affairs.
If your assets could potentially be subject to state or federal estate taxes when you die…
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