It’s no surprise that people aren’t in a rush to write up legal documents – the process seems lengthy, scary and completely overwhelming.
One document, however, is extremely crucial (and easier than you may think): a trust agreement! A trust agreement is one of the best ways to guarantee your desired outcome to imperative decisions made once you pass away without court oversight and interference. It ensures your assets are protected, your young children are safely cared for, and your legacy is honored.
Let’s discuss the top three reasons why you need a trust agreement in this article.
1. You can protect your assets.
By creating a trust agreement, you can ensure your property, cash, businesses and investments are protected. By titling assets into your living trust agreement, you ensure they will not be subject to the probate process. Additionally, by choosing how your assets are divided and whom they’re given to, it will help eliminate any conflict or confusion.
2. You can protect your children.
A big concern for parents is protecting young children after an unexpected death. A trust agreement ensures your young children will be placed with guardians that you choose. Without one, courts and state law may make those decisions, and they may not place your children where you’d preferably choose. Additionally, you can leave money or property to your children through a guardian you select and trust to manage the money for them.
3. You can give less money to the government.
In order to avoid the lengthy process of probate, you can create trusts to protect your property. It is important to recognize there are many different trusts that each serve a specific purpose to protect you, your property, your legacy and your family, and your estate planning lawyer can advise you as to which is best for you.
We are here to make this process easier and less daunting. Ready to start planning ahead? Let us know by sending us an email at email@example.com or calling us at +1 (757) 645-2849. We look forward to talking to you!