Living Trusts

It is important to consult an attorney when drafting a will since a will may not be the most advantageous method to control the disposition of your estate depending on your needs.  This type of trust is a will substitute that allows property to pass to others upon your death without a will, avoiding the cost and time consuming procedures associated with probating a will.  Other advantages of a Living Trust are that it is more private than a will because it doesn’t have to be registered with a court, may reduce estate taxes and it is possible to designate someone else to handle your assets.  You are probably asking yourself why anyone still uses a will.  However there are different legal consequences to transferring property by trust and will.  Most importantly the law of trusts rather than the law of wills governs the disposition.  It is also much more expensive to set up a trust as opposed to writing a will.  Schwartz and Sinski will make sure you are aware of these consequences allowing you to make an informed decision. 

Some important advantages of disposing your property by a Living Trust:

• Avoids time and cost associated with probating a will
• Avoids the need to bring separate probate proceedings in states where property being disposed of by will is located. 
• Eliminates the need to have a court appointed guardian or conservator should you become incapacitated
• A Living Trust is totally confidential
• No need to hire a lawyer once it is time to distribute your property