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Do I Need a Trust?

Protection for You & Your Family

In the midst of creating your personal will, you may also be wondering about the need to prepare a trust. While both documents are similar, a trust has significant benefits that a will simply doesn’t provide.

Understanding the Benefits of a Trust

By making a trust, you appoint one individual, your trustee, to oversee and manage all property held in your trust. A living trust is one that you create while you’re still alive. During your lifetime, you will typically be the trustee of the trust. Then, upon your death, your named successor trustee will distribute the assets held in the trust to the trust beneficiaries, without the need for Probate.

Three of the biggest benefits of a trust are:

  • Avoiding probate - Dreaded by many, probate can be time-consuming and costly. All assets held in a trust generally avoid probate and many of the drawbacks associated with a probate proceeding.
  • Allow control over trust assets after death - A trust can allow you to direct what will happen to your assets after your death, which is especially important in second marriage situations or if any of your beneficiaries are minors who cannot receive a large gift before reaching the age of 18.
  • Preserving privacy - Unlike a will, a trust is kept private and out of the public records and the distribution of assets is also kept confidential.

Get started with a Sarasota probate lawyer!

Rather than viewing a trust as one a complicated legal concept, let us explain it to you in a way you can understand.

For trusted legal assistance in drafting your trust and other estate planning documents, schedule your consultation with The Edwards Law Firm, PL now.

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