by Legacy Plan Aug 31, 2017
Summary: Estate planning contains many options. One of these is the revocable living trust. While many people know that a living trust can help your family avoid the costs, hassles and time delays that may be associated with probate administration, there are many other facts about, and benefits of, living trusts that are less well-known, such the benefits your trust can provide you during your lifetime and the added level of FDIC protection that trust ownership of bank accounts may offer. These are just a few of the many useful pieces of information regarding what a living trust can do for you. A qualified estate planning attorney can give you specific information that is custom-tailored to your situation.
If you’ve developed much familiarity with estate planning, there are probably certain things you know already. For example, a properly funded living trust can help you avoid probate and powers of attorney can provide valuable benefits if you become
mentally incapacitated. However, there are certain other things that are true about estate planning and are less well-known, but are still really useful to have in your “knowledge base.” Here are three of them:
This is, undoubtedly, not a complete list of lesser-known truths about living trusts, wills and estate planning. The facts about estate planning can fill (and have filled) entire books. That’s why it is important to work with a qualified estate
planning attorney, who can learn about your specific, individual needs and then apply all of his/her legal knowledge to help you get the plan that best works for you.
This article is published by the Legacy Assurance Plan and is intended for general informational purposes only. Some information may not apply to your situation. It does not, nor is it intended, to constitute legal advice. You should consult with
an attorney regarding any specific questions about probate, living probate or other estate planning matters. Legacy Assurance Plan is an estate planning services-company and is not a lawyer or law firm and is not engaged in the practice of
law. For more information about this and other estate planning matters visit our website at www.legacyassuranceplan.com.
This article written and published by:
Legacy Assurance Plan
8039 Cooper Creek Blvd
University Park, Florida 34201