When Illinois residents like you decide that it’s time to look into your trust options, Zapolis & Associates, P.C., is here for you. There are many things to learn about trusts, and they can benefit anyone of any age, despite the common idea that they’re only necessary for the elderly.
First of all, living trusts are great because they aren’t just useful after you have passed. They can be used in your life as well, and allow you to keep all of your asset control while you’re still alive and able-minded. However, these assets can also easily be transferred without probate as soon as you become incapacitated, as per the terms of your living trust.
If you’re worried about the privacy of your estate or assets, living trusts will keep that information under lock and key. You only share what you wish to share, and you don’t have to worry about your estate being managed by anyone else unless you have been incapacitated or disabled. In that situation, your designated co-trustee will take over until you’re able to.
When dealing with the creation and execution of a living trust, it will be necessary to have professionals at your side, guiding you through the process. However, reading up on trusts can help you to prepare yourself before you go in for your first meeting. Take a look at the link given here, which will take you to our web page on estate planning. There, you’ll be able to take a more in-depth look at trusts, succession plans, and more.