Living Trust Packages
What is a Living Trust?
A Living Trust is a powerful legal tool that can help your family avoid the time-consuming and costly probate process. When you establish a Living Trust, it becomes a separate legal entity. During your lifetime, if you transfer your assets into your Trust (via a process known as Trust Funding), you can specify exactly how you want these assets distributed after you are gone. Assets held by your Trust typically bypass the probate process entirely, saving your loved ones both time and money.
As the Trust creator (known as the Trustor), you maintain control by selecting successor Trustees who are trusted individuals who step in to manage the Trust after your passing. Successor Trustees are responsible for distributing the property held by the Trust according to your instructions.
Benefits of a Living Trust
May Hold Diverse Assets
A Living Trust is a powerful and flexible estate planning tool. Can it hold business ownership interests, including LLC and S-Corp shares? Yes. Can it hold real estate and investment portfolios with stocks and bonds? Absolutely. For most types of assets (excluding those that are individual-specific, or tax deferred), if you can own it, a Trust can own it.
Privacy
Probate court proceedings are public. This means that any documents produced during the process, including Wills, inventory sheets, and records of distributions made (and to whom!) become a matter of public record. Living Trusts, in contrast, are private legal documents that are generally not available to the public.
May Hold Assets for Minors and other Vulnerable Populations
A Living Trust can serve as an excellent protective mechanism if you wish to provide for minor children or grandchildren who are too young to receive funds outright. Your successor Trustees hold and manage assets, as instructed, until your young beneficiaries reach the age you specify. In the meantime, your Trustees have the authority to make discretionary distributions for your beneficiaries' health, education, maintenance and support, as needed.
A Living Trust may also be used to create a Special Needs Trust for beneficiaries who require government aid, and whose aid may be compromised if they receive funds outright. In this scenario, the successor Trustees that you select would be responsible for holding assets for your beneficiaries, according to the terms of the Trust, in a way that does not compromise your beneficiaries' government funding.
Our Process
Every family's needs are unique, and that's why we create custom estate plans tailored specifically to your goals. Our dedicated team will walk with you through each step. We want you to understand and feel confident about the decisions that you make!
Creating Your Complete Estate Plan
Trust Establishment & Funding
- We will create your Living Trust based on the specific information that you provide us with.
- Your home will be transferred into the Trust as part of our package.
- As authorized ADOT Motor Vehicle Division and Game & Fish providers, we can seamlessly transfer your vehicles and boats into your Trust, if desired.
- We will work with you to develop a practical action plan for your financial assets.
Essential Life Planning Documents
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Advance Healthcare Directives: These are documents that outline your healthcare wishes, and appoint agents to act for you should you be unable to speak for yourself.
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Financial Power of Attorney: This document is used to designate agents to manage your financial affairs should the need arise during your lifetime.
Our Commitment to You
We believe in empowering you through education and resources. We will take the time to answer your questions, review drafts with you, create documents specific to your needs, and ensure that you are comfortable with your estate plan.