A living trust is a vital part of estate planning, especially for people who wish to leave certain assets and property to their heirs without the hassle and expense of probate. It can also help protect your privacy, as the nature of a trust is not public record, while an estate that passes through probate is. Many people believe that a trust is only for the very wealthy, but in truth, a trust can benefit most families, even those who have a more modest estate. A West Des Moines, IA, living trust lawyer can explain how a revocable living trust can benefit you while you’re alive and be the best choice for passing your assets down to your heirs.
At the Law Group of Iowa, we can help draft legal protections for your estate and heirs, including a living trust. We can also help you modify an existing trust if your family circumstances or desires have changed. Contact us today for a consultation.
Personalized Insight From A West Des Moines Living Trust Lawyer
When correctly drafted by an experienced Iowa estate planning attorney, a living trust allows you to pass assets to your heirs, bypassing probate. You can also financially benefit from these assets while you’re still alive, which you may not be able to with another type of including having control over the living trust, including changing the terms under certain circumstances. The assets in the trust are also protected from creditors and estate taxes. Finally, the terms and contents of the trust are private; if you bequeath assets through a will, then everything becomes a matter of public record.
You and your attorney can revise the trust at any time and add assets to it. A living trust is also safer from a challenge than
The court involvement in managing and distributing your assets is minimal when you opt for a revocable living trust instead of writing a will. Plus, you minimize the chance will challenges or other estate disputes. You can revise a revocable trust at any point, should your situation change, or add other assets to the trust.
Living trusts aren’t just a legal vehicle for passing your assets to your heirs. They can also be a vital part of your retirement and end-of-life planning. You can establish a trust to ensure that you have a steady income even after retirement or to avoid a financial conservatorship of your assets. With the living trust, you are more empowered.
Is A Living Trust Right For You?
The legal team at the Law Group of Iowa takes a thoughtful approach to estate planning, starting by getting to know you and your financial goals. We offer several options for estate planning, explaining the benefits and potential drawbacks of each so you have the right information to make good decisions for your family. We combine traditional approaches to estate planning with creative solutions for your family’s unique needs. With our deep knowledge of Iowa estate planning and succession laws, we can help you protect those you love and everything you’ve worked so hard for.
Our prudent solutions are designed to stand up in court, protecting your assets from challenges. Contact our firm today to see how a West Des Moines living trust lawyer can help you.
