Trust Attorney in St. Tammany Parish
Why Should I Get a Living Trust?
A living trust may look like a will, but it’s far from it. Put simply, a living trust allows you to place your entire estate in the hands of a trustee while you’re still alive. Upon your death, this trustee is tasked with distributing your assets and property to your beneficiaries according to your instructions.
When people plan their estate, whether or not they want to establish a living trust ultimately comes down to personal preference. A major component of that preference, however, is whether or not they want they have assets and real property that will go through succession, which is known as probate in other states.
Having a trust established can help you ensure your affairs are in order and good hands while you’re still alive. Our trust lawyer in St. Tammany Parish can field and questions you may have about this process, or help you establish your living trust today.
Why Would I Want to Avoid Probate?
Succession, also known as probate, is the legal process for transferring ownership of a deceased person’s assets and property according to their will, or to a legal heir if no will can be found.
Bypassing this process with a living trust has a few benefits:
- Avoid delays and expenses associated with succession procedures
- Avoid strife among heirs who may challenge your will and testament
- Privacy – probate and succession records are accessible to the public
Establishing a living trust is one way your estate can avoid succession – but not estate taxes – when you die. With a living trust, division of all assets and property in your estate can be handled within your family and without getting the legal system involved.
If you’re seeking to establish a living trust to look after your loved ones when you’re gone, contact Lindsey S. Olsen, Attorney at Law. We offer consultations in person or over the phone: (985) 256-3553.