When you utilize a living trust to plan your final wishes the distributions of your assets will take place outside the probate process. This process is often avoided because of three major factors: it is time-consuming, it can be expensive, and it is an open proceeding that provides a forum for those who may want to challenge your will. A revocable living trust gives you the power to control the funds while you are still alive, and because the trust is indeed revocable you can make changes or … [Read more...] about Do You Have Questions About Trust Administration?
Part of the estate planning process involves the execution of documents that direct the transfer of assets to your heirs after you pass away. Most people will use either a will or a trust to accomplish this. Making sure that you have legally binding documents in place is absolutely essential. However, when you are working with an estate planning lawyer to draw up these documents you should consider the matter of postmortem planning as well. A document can't get up off the desk and take action. … [Read more...] about Postmortem Planning Is Part of the Equation