Living Trust Secrets

A Living Trust or otherwise known as a "Revocable Living Trust" is a powerful estate planning tool for families and the elderly. A living trust is similarly to a will in that it distributes your property upon your death. Unlike a will, a living trust is a private document and is not subject to probate court. A will must undergo a court procedure called probate court, which most people hate. Your estate can be simply administered with a Living Trust in less than 30 days.

A Living Trust also provides guardianship protection while you are alive and protects you and your money from the costs and dangers of guardianship. Guardianship is when one loses the ability to make decisions over their personal and financial affairs. Guardianship court is a court which hears claims of adult disabled seniors. In order to make any decision, the Guardianship court must be advised of the decision and a court order is often required. This creates headaches because one simply cannot withdraw their own money without expense and hassle. A Living Trust properly funded prevents this hassle.

Many seniors and elderly are uninformed about the secrets of the Living Trust. A Living Trust is a powerful estate planning tool, which seniors and the elderly should strongly consider.

Sean Robertson is an estate and asset protection attorney concentrating in estates and trusts, probate, and guardianship law. Sean Robertson can be reached at either (312) 498-6080 or (630) 364-2318.

What is a Private Land Trust?

A private land trust is a form of real estate property ownership which provides several benefits to real estate owners. The first benefit is privacy because the title ownership is secretive. The second benefit ease of transition after a death. A private land trust offers a provision or provisions that allow a real estate owner to transfer their property interests to their loved ones upon death. The third benefit is a private land trust protects against liens and judgments. This is a huge benefit in today's economy because you cannot sell a property if you have a judgment against you in your personal name. For example, I spoke with a real estate owner today facing foreclosure on his primary property while he owns a second investment property in another city. A private land trust provides basic asset protection against liens and judgments. This is important because one can have a judgment against them and sell their real estate without satisfying the lien or judgment.

Sean Robertson is an estate and asset protection attorney. Sean Robertson can be reached at (312) 498-6080 or (630) 364-2318.