As far back as A.D. 800 English peasants used the Living Trust to protect their land from abusive kings and noblemen. Today it’s used by families with both large and small estates to avoid the cost, delay, and public scrutiny associated with probate. If you have a Will, your estate will go through probate. The Living Trust Source by 1Source Law LLC recommends that all families consider a Living Trust to make the transfer of
October 10, 2018
Spendthrift Trusts for Heirs Struggling with Addiction
If you have a son or daughter battling a serious drug or behavioral addiction you can place their inheritance in a ‘Spendthrift Trust’ built into your ‘Living Trust.’ The child’s inheritance is managed by a ‘Trustee’ and used for the benefit of the troubled adult or youth. The Trustee can be a family member, trusted friend, or professional fiduciary. The Trust can provide the appropriate level of support for the situation as it may unfold
October 9, 2018
Position Your Family to Avoid Probate Court
Over $18 trillion dollars will change hands as this generation passes their estate to their heirs. Statistics suggest that 1 in 5 families are positioned to avoid probate with a living trust. This means probate courts and lawyers will be busy as 4 of 5 families will go to court to receive their inheritance. Children will be forced to wait to receive their share while courts and attorneys process the family estate. For families that
October 8, 2018
Protect Your Hard-Earned Money & Your Family – Avoid Probate
5 Reasons to Avoid Probate With a Living Trust Your children and heirs can completely avoid the probate process Your estate remains private. Probate involves public notice and disclosure. You can speed up the distribution of your assets to your heirs by months or years. You can limit or avoid Federal Estate Tax, State Estate Tax and Capital Gains Taxes. You can avoid multiple probate proceedings if you own property in more than one state.
Good estate planning involves a lot more than deciding who gets what. The Living Trust Source, powered by InSource Law LLC, recommends that you consider the following when creating or updating your estate plan: Instructions for your care if you become incapacitated Instructions for passing your values Specific provisions for loved ones who might be irresponsible with money or who may need future protection from creditors Protection for your loved one’s inheritance in case of
