Advantages of Living Trusts

Since 1985, Kevin Staker has led the StakerLaw Tax and Estate Planning Law Corporation in Camarillo, California. In this role, Kevin Staker guides clients in the creation and administration of living trusts.
One of the most popular reasons for creating a living trust is to avoid probate, which is the process by which the court system oversees the distribution of a deceased person’s assets. A living trust is legally exempt from probate requirements and allows the named trustee to independently carry out the terms of the trust so that heirs receive their inheritance in a matter of weeks rather than months to years.
Similarly, a living trust allows the creator to designate a person to manage his or her affairs in the case of incapacitation. Without the trust document, families often must seek legal intervention to make financial and healthcare decisions. A named trustee, however, can take over as soon as physician confirmation of the person’s incapacitation is available in writing.
Living trusts also provide protection against court battles. Courts historically are more likely to favor the wishes set forth in a living trust than those in a will, since a trust creator remains involved with the document after its creation and thus indicates continued confirmation that the stated wishes are accurate. However, because the trust is not immune to lawsuits, the trust creator or trustee may wish to seek legal representation if either party anticipates a dispute.
