living trust vs will

Why Use a Living Trust Instead of a Will

Navigating the complexities of trusts and estates can often seem overwhelming. Our comprehensive guide is designed to demystify the essentials, providing clarity on everything from setting up various types of trusts understanding the differences between revocable and irrevocable trusts, to managing your trust’s financial implications. 

Whether you’re considering the benefits of a living trust, curious about how trusts can aid in avoiding probate, or need insights into the tax ramifications, this resource is tailored to answer the most common queries.

With practical advice on the roles and responsibilities of all parties involved, including trustees and beneficiaries, our sections delve into the nuances of estate planning to ensure you’re equipped with the knowledge to make informed decisions for your future.

   – Understanding the Types of Trusts
What is a Trust?
What is a Revocable Trust?
What is an Irrevocable Trust?
What is a Joint Trust?
What is a Bypass Trust?
What is a QTIP Trust?
What is a Charitable Trust?
What is an Asset Protection Trust?
What is a Constructive Trust?
What is a Totten Trust?
What is a Blind Trust?
What is a Life Insurance Trust?
What is a Spendthrift Trust?
What is a Generation-Skipping Trust?
What is a Qualified Personal Residence Trust (QPRT)?
What is a Pet Trust?

  – Setting Up Trusts
How Do I Set Up a Trust?
Revocable vs. Irrevocable Trusts: What’s the Difference?

  – Living Trusts Demystified
Why Use a Living Trust Instead of a Will?
Benefits of a Living Trust for Single Individuals

  – Trust Management and Parties Involved
Settlor vs. Trustee
What Parties are Involved in a Living Trust?
The Role of a Trustee in Trust Management

  – Estate Planning Techniques
Can Joint Tenancy with Rights of Survivorship Avoid Probate?
Pour Over Wills: A Safety Net for Trust Assets

  – Trusts and Your Finances
How Does a Living Trust Affect My Income Taxes?
Does Placing My Home into a Living Trust Affect My Mortgage?

  – After Death: Trusts and Estates
Can Changes Be Made to My Living Trust After Death?
What Happens to a Living Trust Upon Death?

  – Trusts as Estate Planning Tools
Trusts and Avoiding Probate: How Does it Work?
Trusts for Asset Protection: How Effective Are They?

  – Trusts in the Context of Taxation
Are Trusts Taxable?
How to Reduce Estate Taxes with Trusts

  – Additional Resources and Considerations
Where Should I Store My Living Trust Documents?
Choosing Between Individual and Corporate Trustees