A Living Trust: A Personalized, Sensible Estate Plan

As you turn your attention to estate planning, you may want to accomplish many or all of these goals:

  • Formalize wishes and instructions for distribution of your assets after death
  • Provide for your family members and/or charitable organizations and causes
  • Establish your legacy with legal protections
  • Designate potential guardians of your minor children, if applicable
  • Keep your assets out of probate
  • Minimize tax consequences of estate administration

At the same time, you will want to ensure that your own financial needs are accounted for throughout your lifetime. In other words, you want to retain control of your assets while you are alive. You want to allow your trustee to manage them if you are incapacitated and assume control of your assets after death.

A living trust can encompass all of these goals. Its advantages include that:

  • It is private
  • It can keep most or all of your assets out of probate
  • It can include provisions for disability planning
  • It can spell out when and how a committee that you designate — perhaps your doctor and your children — can take over control of your affairs without the need for a conservatorship

Understanding how a living trust will work in your particular family and financial circumstances is an important step in deciding to create one. If you are interested in discussing trust options for your estate plan, consult with Riddle Law Group, LLC.

I am M. Andrew Riddle, an established estate planning lawyer in Marietta, Georgia. At Riddle Law Group, LLC, we devote our attention solely to this area of the law and probate. My experience can work to your advantage as I help you discover and implement estate planning strategies that best meet your needs.

How Your Living Trust Can Work To Meet Your Objectives

Once you create a living trust, you must then "fund the trust" by retitling your assets to its ownership. You will be the trustee of these assets as long as you live. Your successor trustee — your spouse or child or perhaps a trusted financial manager such as a bank or a trust company — will take over that role after your death. The successor trustee will distribute assets according to the terms of the trust. Assets will be managed according to the way the living trust is written. For example, upon your death, assets may pass immediately to beneficiaries or they may be paid out over time, depending on your instructions in your living trust.

A living trust remains revocable as long as you live. You can cancel it or alter it anytime. Upon your death, it will become irrevocable. Its terms will be binding.

Schedule A Free Initial Consultation With Me, Attorney M. Andrew Riddle

At Riddle Law Group, LLC, we offer all estate planning services on a flat-fee basis, so clients can be assured of the costs of representation upfront. Let us explain how we can help you design to let your family or other beneficiaries avoid probate. We can also help you create a living will or advance directive to cover your preferences for medical treatment. Contact us at 770-884-6283 or 877-776-6510 toll free for a free initial consultation.