When it comes to revocable living trusts, please seek the advice of an attorney. Living trusts are estate planning tools to help manage your finances before. Living Trusts are not just there for wealthy individuals. It is also for those who are concerned about their health and well-being.

The first and possibly the most important reason to have a living trust is to avoid probate. You can potentially avoid the timely and costly legal process that is probate by having your home in a living trust. The probate legal process can take months and can be very expensive. The upfront cost of setting up a living trust can outweigh the costs of probate while giving you extra flexibility and other benefits.

Another reason would be to keep your privacy intact. Especially in this digital age, it is harder than ever to have privacy. Normally when you would pass away, the probate process would reveal information about the estate that you may want to keep private into public record. A revocable living trust would keep that information private after death.

Living Trusts let you maintain control of your finances even after you pass away. Normally when you would pass away, you would have to allocate your estate immediately. Using a living trust, you can hold off until your children reach a certain age or complete a milestone (graduating college, marriage etc.).

The flexibility of a living trust cannot be understated. For those out there who have health issues or have family members with special needs, living trusts can make preparing for the future much easier.



If you want to learn more about Living Trusts and Mortgages, please contact Chissell Mortgage Group at (727) 376-6900 or go to our website https://www.chissellmg.com.                             

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