Berthoud Trust and Settlement Attorney
It is never too soon to begin estate planning. For various reasons, it might be in your best interest to include a living trust in your estate. Speak to a Berthoud trust and settlement attorney with Colorado Estate Planning Law Center, to see if this is the best option for you.
Why Choose Our Berthoud Trust and Settlement Attorneys?
- Our firm has over two decades of legal experience, so take advantage of our estate planning knowledge. Karen Brady is an Accredited Estate Planner National Association of Estate Planners & Councils and is ready to ensure you have stellar estate planning advice.
- We provide you with a family-focused approach so that your family can avoid the long-term complications and headaches that can accompany a poorly executed estate plan. Our aim is to plan your estate in a way that is most beneficial to your family.
- You are an individual, your estate is unique, and so is your situation. We will never lose sight of that by applying a one-size fits all approach. Our aim is to address your specific concerns and goals.
What Is a Living Trust?
Revocable trusts are commonly called living trusts. Property owners can use living trusts to transfer property into so that the property then belongs to the trust going forward. This means the property is owned by the living trust, but the property’s original owner can move things in and out of it and control its holdings. Ownership of the trust can be given to another party, but the creator still has the ability to have continued control of the trust throughout their lifetime.
An example of how a living trust might work is when a parent puts their home into the trust. This means that it is no longer part of their estate if they pass away. The trust then owns the house and can be transferred to the trustee, perhaps their child, after their death. This way, the home avoids probate.
Living trusts name a trustee. This person is assigned to manage the assets within the trust. The trust outlines who the beneficiaries of the trust are as well. This way, it is clear who receives a portion of the trust upon the grantor’s death.
H2: Do You Need a Living Trust?
There are several reasons why a living trust might work best for you. If an accident or disabling event occurs, your assets will be managed the way you intended them to be. In the case of your death, you know that your beneficiaries will receive what you want them to have.
Some of the benefits of using a living trust are as follows:
- Avoiding the probate process: The probate process is costly and time-consuming, so avoiding the probate court system can be best for you and your beneficiaries.
- Privacy: Since your living trust would be managed by someone you appointed rather than the probate court, what your estate contains, its value, and how it is distributed will not be recorded publicly.
- Assets are available faster: By using a living trust, your beneficiaries do not have to wait as long to receive what you want them to have. Probate is a timely process.
H2: Call a Berthoud Trust and Settlement Lawyer Today
Speak to a Berthoud trust and settlement lawyer with Colorado Estate Planning Law Center, today about your estate planning needs. We can assess your assets and help you determine whether a living trust is right for you. Our legal team focuses on doing what is best for you and your family. Let us show you what we can do for you at a free consultation.