Living Trust Lawyer
A living trust or an executive revocable trust is a document formulated by grantor, or the grantor of a particular estate. While the grantor is alive, there are certain dynamics that occur to the estate that perhaps the grantor would like to be reflected in some form of communication that would be ongoing in case the grantor became deceased. The nature of a living trust allows the grantor to continuously amend the contents and composition of this document as circumstances change. This then allows the grantor to protect their property from probate, a process that is carried out, by law, on any deceased person’s estate to verify and adjudicate the validity of any claims made post humus by that grantor's beneficiaries.
Why use a living trust instead of a will?
There may then arise the question, why then use a living trust rather than simply write a will and shelve it away for that rainy day? Well, the answer is two fold. First, a living trust, as mentioned above, is amendable throughout the duration of the grantors life. This confers the obvious advantage that amendments can be effected in tandem with changing circumstances, say, change in composition of family, financial status, marital status, etc. This enables the grantor to always have an updated document that reflects the most recent circumstances. Second is that a will has to go through probate to verify and substantiate the claims whereas the living trust is taken on an as-is basis, being protected by the law, from undergoing probate.
Who is a living trust lawyer?
Having defined what a living trust is, it becomes apparent that every person needs to have a living trust stashed away somewhere and that is regularly updated. This is a tedious and complicated process and as such, the need for a living trust lawyer arises. These professionals have the technical know-how and competence, to not only help you draft that initial living trust, but also to assist you keep it updated and relevant from time to time. A living trust lawyer shall also assist one in understanding in a more clarified way the nature and composition of the living trust as well as the full and exhaustive list of advantages appended thereof.
Benefits of having a living trust lawyer
As mentioned briefly above, there are many benefits that come with soliciting the services of a living trust lawyer. Just to add on to what is already mentioned, another advantage would be the peace of mind the grantor would have in knowing that a professional is handling this crucial matter. Concomitantly, the living trust lawyer would be in a position to advice the grantor on changing trends or laws, value of assets, interest, etc, that would affect t the composition and execution of the living trust. Finally, to go at such a law intensive process alone would be a farce and as such, because lawyers do not call each other ‘learned friend’ for no reason, it would be good to always have a ‘learned friend’ at your side.
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