This Law Office will be presenting seminars on Living Trusts. The upcoming dates are February 9th and February 23rd. They will be held at noon in our Port Orange office and lunch will be provided!
Many people assume that trusts are only for the very wealthy. That’s not true. Trusts are useful tools to give you control over how your money and property is used and protected, no matter how much money you have. Here are 4 potential benefits to consider:
- Avoid Probate. If you do not have a Trust when you pass, all assets in your sole name will need to go through the Court process known as Probate in order for them to be received by your beneficiaries. Probate takes time and Probate can be expensive.
- More Control. You can use a Trust to set conditions about when and how your beneficiaries will receive their inheritance. For example, you could establish a Trust that sets a specific age, say turning 30, or a milestone (like graduating from college) before the money is made available. Trusts can also help you reach charitable goals or improve tax efficiency.
- More Protection. Trusts can ensure that your children or other loved ones receive their inheritance if you are remarried. They can also help shield assets if you or your heirs are sued.
- Incapacity Planning. A Trust lets you designate someone you trust, a family member, friend, or professional money manager, to handle your assets if you are incapacitated. This avoids the possibility of a guardianship. Nobody wants to be a Ward of the State.
For more on Trusts, come to one of our seminars! Call us today at (386) 256-4882 to reserve your spot!