Are you looking for a way to protect your assets and ensure they are distributed according to your wishes after you pass away? Look no further than a living trust! A living trust is a legal document that allows you to transfer your assets into a trust during your lifetime. By doing so, you can avid the costly and time-consuming probate process, which can tie up your assets for months or even years. But did you know that there are other little-known benefits to using a living trust?
Keep Your Affairs Private
For example, a living trust can provide greater privacy for your estate. Unlike a will, which becomes a matter of public record, a living trust allows you to keep your affairs private.
Protect Assets from Long Term Care Costs & Creditors
Another benefit of a living trust is that it can help you protect your assets from creditors and long-term care costs. By transferring your assets to the trust, you can shield them from potential creditors, lawsuits and a costly Medicaid spend-down.
Protect Minors, Special Needs &Spendthrifts
And finally, a living trust can be a powerful tool for estate planning. With a living trust, you can set up provisions for the care of your loved ones after you pass away, including provisions for minors, spendthrifts, those with special needs, and even protect your estate from your in-laws you’re not so fond of!
So if you’re looking for a way to protect your assets, ensure your wishes are carried out and enjoy greater privacy in your estate planning, consider a living trust today!
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Jamison Bonds, VA Accredited Attorney
One of the many benefits of being an elder law attorney is getting to work with selfless clients who act not out of their own self interest, but out of a deep concern for the people they love. That’s why I love helping families enjoy peace of mind and protect their hard-earned assets.
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Over the course of nearly a decade, we’ve helped more than 1,200 of your neighbors with their estate planning and elder law needs. Now we can help you achieve the best possible outcomes for your family.