Palm Desert Blog of Lawyer Dale S. Gribow

For those of you who do not know what a living trust is, let me explain.  A living trust, also known as an inter vivos trust, is written before the creator dies.  A living trust does not help assets avoid probate. 

It is important to understand that signing and notarizing documents does not end the process.  If you are the trust’s creator, you must visit your bank to change title and ownership of certain assets from your name to the living trust’s name.  By doing this now, you can save time and effort for those taking care of your estate after your death. 

Before drawing up a living trust, you must understand the people involved, which include trustees and beneficiaries.  You should be aware of how to transfer assets into the living trust and the reasons living trusts are used to keep assets. 

If you are considering a living trust, you should contact an experienced Estate Planning Attorney who can help you and answer any questions you may have.  No one likes to think about death, but planning will save your beneficiaries aggravation and time later.

written by Author \\ tags: assets, attorney, beneficiaries, Estate Planning, inter vivos trust, living trust, trustees, Will