Like a will, a living trust is a legal document that dictates how an individual’s assets will be distributed upon death or incapacitation. However, unlike a will, a living trust also manages an individual’s assets and property while the person (legally referred to as the trustee) is still alive. While some people set up living trusts to save money on estate taxes and to prevent their heirs from having to go through probate (the legal process of determining the validity of a will), others may construct living trusts to prevent their financial records and affairs from being on public record.
It’s important to note, however, that living trusts cost more and demand more constant attention than wills – which ultimately means that the choice will depend on an individual’s situation and needs. If you or a loved one is considering creating a will or a living trust in Sampson (or anywhere in the state of North Carolina), the seasoned lawyers at Kelly & West welcome you to attend a complimentary consultation to learn more about your options, as well as to receive professional advice regarding the best manner in which to proceed.
To schedule a private consultation to discuss your options with an experienced and honest attorney, please contact our Sampson living trust attorneys today.