McKinney Estate Planning Lawyers for Living Trusts
What is a Living Trust?
When individuals with family and loved ones die, they want to be able to leave as many assets as possible to those they care about and avoid the costly fees associated with probate lawyers. If this is your goal, creating a living trust may be the perfect option.
A living trust is a legal document that you create during your lifetime naming your specific desires with regards to assets, dependents, and your heirs. Upon death, your trust may bypass the probate process completely and a successor trustee will be tasked with carrying out its instructions.
Some of the benefits of creating a living trust may include:
- Ensuring that your final wishes will be carried out
- Avoiding the time, cost, and hassle of the probate process
- Saving money on estate taxes
Types of Living Trusts
There are two basic types of living trusts, which are basic living trusts and AB trusts. A basic living trust is used both for individuals and couples, and are used to avoid the probate process. An AB trust is intended solely for couples and to avoid the probate process while also helping you save on estate taxes.
Let Us Help You Find the Best Option for Your Unique Situation
At Willingham & Galvan, our McKinney estate planning attorneys can sit down with you during your consultation to better understand your needs and concerns and recommend what type of living trust may be the best option for your situation.
Your goals are our goals, and we are committed to ensuring that your wishes are clearly expressed and your loved ones are well taken care of long after your death.
For more information on living trusts and how our team can assist with the creation process, contact any of our conveniently located offices today.
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