Revocable Living Trust
The estate planning alternative to avoid the hassle and cost of probate.
Forming a Revocable Living Trust With Anderson
When most people think about estate planning, they think about wills, probate, and fees. But what many people don’t know is that there is an easier, less costly way to plan their estate and provide for their family where they are in control, not a judge. The initial cost of a will is cheaper than that of a living trust – the savings comes after your passing. The national average cost of probate is 4% of the estate and, on average, takes 18 months from start to finish. Avoid these delays and costs, and remain in control of your estate by forming a revocable living trust with Anderson.
Living Trust Vs. Will
A living trust, once signed, notarized, and funded, is a legally binding document that guarantees your plan for your estate will be executed as you wish. This is confidence that a will cannot provide, because even though it is a legal document, it is subject to probate where it is scrutinized and can be threatened.
|Must be prepared by a lawyer||✔||✔|
|Allows you to distribute your assets to family and loved ones||✔||✔|
|Allows you to title assets directly into it||✔|
|Allows you to appoint a guardian for your minor children||✔*||✔|
|Allows you to deal with all of your property in your home state, rather than each separate state where it exists||✔|
|Maintains private and confidential, is not a matter of public record||✔|
|Your executor(trustee?) is in control of the distribution of property, rather than a judge||✔|
|Your assets can be distributed without the cost of hiring a lawyer||✔|
|Avoids the expenses and time of probate proceedings||✔|
*When a pour over will is included. Anderson includes a pour over will with all of their living trusts.
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PreserveIndividualized tax planning to help you keep as much of your money in your pocket as possible.
ProtectAsset protection strategies and solutions to shield your assets and limit personal liability.
ProsperRetirement and financial planning and wealth management strategies to maximize what you already have.
What You Can Expect When Forming a Revocable Living Trust with Anderson
Once you decide that a living trust is the right option for you, we ask that you complete a questionnaire to tell us a little about yourself and your situation. After we receive your completed living trust questionnaire, the attorney’s paralegal will contact you to schedule a teleconference to discuss your estate plan.
During the teleconference, your attorney will ask questions regarding how your estate will be distributed to your heirs, who will control this distribution, if you want to compensate your successor trustee, etc. You have the ability to customize your estate plan many different ways. At Anderson we believe there is no one-size-fits-all approach to an estate plan.
Once you have received your living trust documents, it is important to execute your documents as soon as possible, meaning you must sign and have your trust notarized to make it legal. We will assist you with funding your trust and can prepare any amendments you need if something changes. Anderson can also deed your personal residence into your living trust so that all of your assets are owned in one place. Once these steps have been completed, you will not need any more intervention from our legal team – you have full control of your trust and after your passing or incapacitation, your trustee handles the distribution of your assets. We will still be here to assist you with questions or changes that need to be made, however.
Experience You Can Trust
Whether you are setting up a living trust only, or you are looking to include this as part of your business structure, you can feel confident that your affairs will be in order. We can ensure your business ownership is assigned to your living trust for the seamless distribution of company assets after your passing.