Thinking about what happens to your assets after your passing is not something that many people want to think about. Make sure to meet with an estate planning lawyer near Anaheim to create a Living Trust so that your loved ones aren’t left with chaos after you’re gone. At the Law Offices of Norman J. Homen, we are dedicated to making sure your wishes are carried out.
Value of Living Trust
A Living Trust manages your assets and wishes when you are unable to do so due to incapacity or upon death. It will name a trustee who will manage your assets when you are unable to. Upon death, the trustee will pay any debts, prepare tax returns and distribute your assets according to your instructions. A Living Trust allows this to all be done without court supervision.
Why is a Living Trust Helpful?
By appointing a trustee and having your wishes written out, it saves your loved one’s time and money. Without a Living Trust, your assets could be held up in court for months and make life more difficult for your loved ones. If your assets are not held in a Living Trust, the value, as well as who is receiving assets, will be public knowledge.
Who Should Have a Living Trust?
If your assets are under $150,000, then a Living Trust may not be necessary. The more assets one has, the greater value the Living Trust has. It can simplify life decisions for your loved ones during a difficult time. A Living Trust will also eliminate any problems that might occur due to greediness after your death.
Contact the Law Offices of Norman J. Homen to speak with an estate planning lawyer near Anaheim. A lawyer will make sure that your Living Trust has all of the information needed and that your loved ones will be well taken care of after you pass.