Things To Know About Living Trusts Attorney
Living trusts are, basically, a way for a person to use their property to pay off debts. However, while everyone has probably heard of a will, it’s essentially a legal form of creating a trust. People don’t generally create such a document themselves, but instead hire an attorney to help them do so. There are a few different types of people who might use a living trust, and you need to know the difference before you get started. Here is some information on these different kinds of people. Atlanta Living Trusts Attorney has some nice tips on this.
First, there are individuals who simply want to leave everything they have to their spouse and their children after they die. Such a person might make a will that instructs anyone who wants access to the deceased person’s estate to go through the living trust with the lawyer and pay any outstanding debts off. Then, there are also those who want to pass their assets to a specific person before they pass away, usually their children or other relatives. Often times, this means making a joint living trust with the person to be named as beneficiary. This type of living trust can be beneficial when someone has lots of family, since they can all get their inheritances if the person dies unexpectedly.
The final category of people who might end up using a living trust is one that simply wants a trust. These are usually people who are very confident that they will live long enough to execute a trust themselves. However, it might end up being necessary to get help from a lawyer in order to set up a trust. One thing you should know about living trusts is that they are not tied to any particular law. As long as you follow the existing laws regarding intestate property, you shouldn’t have much problem taking care of your affairs. In the end, the most important thing about a trust is that you choose someone whom you can really trust.
Oren Ross & Associates
200 Galleria Pkwy #1880, Atlanta, Georgia 30339
Phone No. : (404) 436-1752