Living Trusts Attorney – What You Need to Know!

One of the biggest issues with probate is the Living Trusts, which are assets left for the benefit of the surviving spouse or beneficiaries of the couple after the death of one of the partners. Have a look at Oren Ross & Associates – Roswell Living Trusts Attorney for more info on this. A probate court determines if a Living Trust is proper, and the Trustee issues assets to the Beneficiaries. It is then up to the beneficiaries to use the money for their personal purposes, or to pay off debts, or whatever they choose. But, it is very important that these assets go to the Beneficiaries now, before the Trustee dies, or the Trustee revokes their Living Trust and liquidates their assets. For this reason, many people are turning to an experienced Living Trusts attorney to help them determine if a Living Trust is right for their situation.

If you are concerned about how to handle your assets following your spouse’s or partner’s death, you should speak to a Living Trusts attorney. If you decide to utilize a Trust, they can help you establish one, review the legal issues involved, and help you decide if a probate court is necessary. The initial step in creating a trust is setting up a Beneficiary, which can be either a family member friend, or business colleague. Once the Beneficiaries are chosen, the trust will be established and the process begins. During this time, the Trustee serves as the primary caregiver for the trust, while the other members of the couple hold onto their rights to the assets. After the primary caregiver passes away, the remaining members of the couple have the choice to revocable Living Trusts and distribute the assets based on their own needs.

There are several factors that must be looked at when deciding if a probate court is necessary. One factor is the age of the couple when they married, if the couple was not together long enough to file an asset control statement, and if there are a lot of assets to divide. Another important thing to consider is whether the couple has a will, and what assets it contains. It is also important to understand whether the assets can be transferred without the consent of the trustee. If a Living Trust is decided upon, and it should be, a Living Trustee must be chosen, and his duties will vary depending on the particular trust.

Will And Trusts Attorney- A Closer Look

A will is defined as a legal document that names someone as the maker of an estate. Wills and trusts both serve similar purposes, however for most people it is extremely difficult to distinguish one from the other. Both pertain to the allocation of an individual or assets to family and friends.Have a look at Atlanta Wills and Trusts Attorney for more info on this.

 

However, the differences between these two are greater than their similarities, which is why it is important to fully understand the exact functions of each. While the primary function of a will is to clearly designate who should benefit from the deceased individual property, a will cannot be used as a probate court testator. A will must be signed by the testator personally and notarized, while a trust is typically used by individuals or estate planners as a way to disperse their assets without making anyone testator, making it impossible to prove ownership without a will. Another difference between a will and a trust is that a will can be revoked after the testator dies without having to show cause, whereas a trust must first show evidence of a valid authorization to act on behalf of the testator. Also, with a will, the document itself is not probated, whereas a trust requires a lawsuit before beneficiaries can access any assets held within.

When people think about wills and trusts, there are a few things that immediately come to mind: who makes them, how they’re made, and when they’re executed. But there are some other factors to keep in mind as well. While executing a will ensures that your wishes are followed, will only act as an authorization for someone to carry out your wishes, and revocable trusts allow you to change your mind without having to take the opposite action, there are other ways to make your estate plan work, including making certain minor decisions yourself to ensure your wishes are met, appointing a durable power of attorney, or even establishing a trust. While every situation is different, if you need help with estate planning, an experienced attorney can provide guidance based on case-by-case scenarios to help you get everything done the way you want.

Contact Info

Oren Ross & Associates
200 Galleria Pkwy #1880, Atlanta, Georgia 30339
Phone No. : (404) 436-1752