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A living trust is a legal document that allows you (the grantor) to put assets into a trust and outline exactly how you want them distributed after you pass away. A will works similarly, but the ...
Issues to consider with a living trust If there's one drawback to putting a living trust in place, it's the cost. You should expect to spend more on a living trust than a standard will.
For many families, a living trust can streamline the process of transferring wealth after you die by eliminating probate and minimizing estate taxes. Check Out: The 50 Happiest States in America ...
Negative aspects of using a living trust as opposed to a will and probate include upfront legal expenses, the expense of trust administration, and a lack of certain safeguards. The cost of the trust may be 1% of the estate per year versus the one-time probate cost of 1 to 4% for probate, which applies whether or not there is a drafted will ...
However, it's good to arm yourself with that information so you can make an informed decision rather than assume off the bat that a living trust won't make sense financially. The $ 22,924 Social ...
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