If you are planning for the future of your estate, prioritize the creation of a living trust in South Jordan. This way, the transfer of your assets after you pass away would go smoother without probate. It also means that your trustee will be allowed to carry out your wishes should you be incapacitated for any reason.
Understanding how living trusts work should be the first thing on your list, as it will help you make an informed decision about how to proceed with the creation of one. An estate planning lawyer from our firm can help you sort through your choices.
Types of Trusts
There are several ways to protect your assets. In terms of trust and estate planning in South Jordan, you have two options:
- Revocable living trust: also referred to as a “family trust,” this real estate plan gives the Grantor (the person who made the trust) the right to alter the trust. They can add or remove assets and change beneficiaries. Once they pass away, the trust will remain protected for the sake of their beneficiaries.
- Irrevocable living trust: Grantors cannot modify, revoke, or terminate irrevocable living trusts in South Jordan. After they create the trust, they give up all their rights to control the trust and prohibit access to their assets. They will still, however, get to decide to what extent will it be carried out over the course of time.
Living Trust Lawyers in South Jordan
At MDF Estate Planning, Inc., our estate planning lawyers focus on preparing and executing living trusts and help clients avoid stresses associated with probate processing.
We attribute our success to our seasoned staff. Our team of lawyers reviews all cases on a regular basis to ensure everything falls into place. We also stay up-to-date with current tax and trusts regulations so we can provide you with complete and cost-efficient solutions.
Protect your investment and property today. Talk to MDF Estate Planning, Inc.’s team to schedule a consultation.