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Living Trusts
A living trust lets you control who receives your assets after you die. However, this isn't the only reason to create a living trust. A living trust can offer many benefits to its creator. For example, a living trust can help your beneficiaries avoid the probate-related expenses and delay normally associated with wills. The probate process can cost up to 10% of your estate's value. Living trusts can provide more privacy than wills. Living trusts may help you avoid certain estate taxes if they are prepared and funded properly. Finally, living trusts let you hand over the management of your assets if you become incapacitated.