Estate Planning
Wealth Managers often discuss the necessity of a Living Trust. The questions become, “How is a Trust different from a Will,” and “What do I need to do to work with Legally Mine?”
The principal function of a Living Trust is to pass your property on to your heirs after you pass away, including providing for the care of a spouse and minor children, without having to put your estate through the time, expense and public record of probate court.
Living Trusts, as the name suggests, are set up while you are living. They are revocable and can be amended or revoked entirely as your life situation changes or if you simply change your mind.
When establishing a Living Trust, you also need a Last Will and Testament as a supporting document to the Living Trust. Here you appoint someone to be in charge of any property that may not already be part of your Trust, pay any taxes or debts and nominate guardians for minor children should you and/or your spouse pass on unexpectedly.
Other supporting documents include a Living Will, which expresses your wishes concerning life support, Power of Attorney in case you can’t manage your own legal or financial matters, and a Health Care Power of Attorney if you are unable to make your own health care decisions.
The peace of mind that you experience is second to none when you have your estate planning in order.
Clients of Legally Mine are ahead of the game because we protect your assets and make it easier to pass those assets on to your heirs.
Learn how to protect your business assets. Setup a free consultation with our team.
Learn how to protect your business assets. Setup a free consultation with our team.