Welcome back. We are here to talk more about estate planning in Cary NC and how a living trust might better assist you than a will. Though the two seem similar there a few differences. We discussed wills in our previous blog. Be sure to visit back with it if you missed it.
Living Trusts | Estate Planning in Cary NC
A living trust allows you to do everything a will can, but assets are placed into a trust while you are living. It also allows you to do the following:
- Avoid probate, as mentioned above.
- Allows your affairs to remain private rather than become public record.
- Gives you protection from court challenges. Although rare, there have been cases where a living trust or will has been challenged in court. When this occurs, a living trust is harder to contest.
- Helps you avoid a conservatorship.
A living trust can be more complicated and cost more to create, but it allows for more protection of your assets. If you have children who stand to inherit your estate, a living trust will allow you to establish provisions instructing when they will be entitled to the assets held in trust. If you have a special needs child or other family member, you will be able to leave more specific instructions on how his or her inheritance should be handled.
Being prepared for a meeting with an elder care lawyer may make the process of establishing an estate plan easier. At Eldreth and Eldreth, our elder care lawyer can help you with estate planning in Cary NC. Give us a call today to make an appointment.
Eldreth and Eldreth | Estate Planning in Cary NC
Remember, if you don’t have an estate plan in place or haven’t reviewed yours in several years, now might be the best time to start. Our estate lawyer is here to help you get your estate planning in order and ready should you pass in an untimely manner or become incapacitated at some point. It’s better to be safe than sorry when it comes to an estate plan. Contact our office.
As always, feel free to contact us at our office to schedule a consultation with if you are looking for a lawyer to represent you in other legal matters. We are here to assist you with small business needs, trademarking, copyrighting and DWI issues.