A living trust is a powerful estate planning tool for preserving assets, maintaining privacy, avoiding probate and protecting your family. Our Kent, Washington, estate planning attorneys can help you determine if a living trust is appropriate for your situation.
Gellner Law has been handling estate planning matters for clients throughout King County since 1978. Call 425-235-5535 to contact us about your estate planning needs.
What Is A Living Trust?
“Living trust” is a general term referring to any trust drawn up during a person’s lifetime. A living trust allows you to retain control over your assets while you are alive, but it avoids costly guardianship proceedings if you become incapacitated and avoids probate proceedings after your death. It is also known as a family trust because it protects assets for heirs, or a revocable trust because it can be revoked by its creator at any time while he or she is competent and can be altered to reflect new circumstances.
You, the trust creator, are named as trustee and can still draw upon, sell or manage your trust assets however you wish. A successor trustee (e.g., a family member, friend or professional) is named to control the trust assets after your death or incapacity. Upon death, your legal will “pours over” your nontrust assets into the living trust, to be distributed or managed as you direct.
Assets in a trust do not have to go through cumbersome and expensive guardianship and probate court proceedings. While court proceedings are open to the public, the contents of a living trust are not. They pass directly to the intended heirs without need for a court proceeding and remain private.
Do I Need A Living Trust?
Living trusts are not just for the wealthy; they can be a cost-effective estate planning tool for middle-income and retired families. Our attorneys can help you decide whether a living trust is right for you and how to establish it correctly to comply with Washington state probate and trust laws.
Can I Afford A Living Trust?
The same experience and expertise needed to handle complex estate planning is made affordable to middle-income families. You do not have to be rich to receive top service from an experienced estate planning lawyer.
Contact Gellner Law
To speak with a Seattle-Tacoma living trusts attorney, contact Gellner Law at 425-235-5535 or contact us by email. We can help you with asset preservation and comprehensive estate planning services.
