Think of a Living Trust as your Bucket List. It is filled with everything that you’ve worked hard for and were lucky enough to accumulate throughout your life. You filled it with your money, property, and other assets – stocks, bonds and perhaps even a boat or plane! You’re free to do whatever you want with the contents of your Bucket, such as selling your property or stocks while you’re alive. If something unexpected happens to you, or even if you die at a ripe old age, whatever’s left in the Bucket goes to your heirs, and people that you love – automatically without any additional stress or financial burden on them.
Does every home owner need a living trust?
You may have put together a will stating how you would like your assets distributed. Although a will is a legal document it does NOT take the place of a Trust and all of your assets will be frozen. Without a Living Trust, your loved ones are faced with a long, and expensive probate court process. Attorneys can rarely intervene or have control over the timing of the courts. It’s bad enough for those closest to you to face the shock and grief of losing you, the last thing on their minds should be the uncertainty and expense of your estate. They will NOT be allowed to SELL, TRADE or ACCESS any of your assets.
Show the people that you love how much you care for them while you’re here. Make time. It’s not expensive, especially in today’s world where you have many online resources to get the process going. No one likes to think about death, No, it’s not very comfortable having to face the fact that you won’t be around forever, but putting things into your Bucket List is absolutely essential.
The bottom line?
Bottom line …. it’s a pretty nice thing to do for the people you care about and doesn’t take a great deal of time or money.
Your Team at Liberty Title