Trust-Based Plans for Your Peace of Mind

Worried About Probate Delays for Your Family?

Avoiding probate is a common concern for many families, as it can be a lengthy and complicated process. The fear of potential delays and court involvement can be overwhelming. However, with a trust-based plan, you can ensure a smoother transition for your assets. At Aligned Life and Legacy Law, we specialize in helping families create trust-based estate plans that minimize court involvement and provide peace of mind.

The Most Common Issues We Fix

Common Situations We Address

  • Privacy Concerns: When privacy is a focus, getting a properly drafted and fully funded revocable living trust into place helps ensure that your estate details remain confidential, away from public probate records and outside the litigation process.
  • Parents With Minor Children: If you're a parent concerned about ensuring your children are cared for in the event of an emergency, a trust-based plan, complete with a Kids Protection Plan ®, provide clear directives and more efficient access to funds on your incapacity or death, ensuring your children are cared for as you intend.
  • Blended Families Needing Clarity: Families with complex dynamics can benefit from a trust-based estate plan, which allows for flexibility in the allocation and management of assets upon a death or incapacity, and can provide needed clarity about each family member's rights and responsibilities.
  • Unmarried Partners Planning Together: For partners who are not married, a trust-based plan can help ensure your wishes are respected, offering similar protections as those available to married couples.

Avoiding Common Estate Planning Mistakes

  • Overlooking Beneficiary Designations: Even with a trust, it's crucial to ensure that all beneficiary designations on accounts and policies are up-to-date and align with your overall estate plan. 
  • Neglecting Professional Guidance: Without expert input, you risk creating a plan that doesn't fully protect your assets and the people you love the way you intend. 
  • Ignoring Regular Reviews: Regularly reviewing your plan in light of life events or legal changes ensures that it remains effective and relevant. 
  • Misunderstanding Tax Implications: Failing to consider the tax implications of your plan can lead to unexpected costs and complications.

Quick Guidance for Common Situations

Guidance for Setting Up Your Trust

  • Assess Your Assets: Begin by listing all you own, ensuring everything is accounted for in your trust. We help guide you through this process, all the way through fully funding your trust.
  • Choose Your Trustees Wisely: Select someone you trust, whom you know to be diligent with finances, and who understands your wishes to manage the trust.
  • Plan for Incapacity: Ensure your trust and related documents outlines what happens if you're unable to make decisions, and that they all work together as a comprehensive plan, avoiding court intervention.
  • Regularly Review Your Plan: Keep in touch with us so we can help keep your trust updated when there are changes to your life or to the law, to ensure it remains effective.

Estate Planning Services

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FAQS

Common Questions about Trust-Based Plans

  • What is a revocable living trust?

    At its simplest level, a revocable living trust is an agreement that allows you to continue to manage your own assets during your lifetime, as well as specify how they are managed in your incapacity and distributed after your death, avoiding probate and court involvement.

  • How does a trust avoid probate?

    Assets funded into a living trust pass per the terms of the trust, rather than through a will, which means they bypass the probate process. This allows for a quicker, more efficient, and private transfer to beneficiaries.

  • Can I change my trust after it's created?

    This depends on the particular terms of the trust, but a typical living trust can be amended or revoked at any time during your lifetime.

  • Is a trust only for the wealthy?

    No, trusts can benefit anyone looking to manage their assets efficiently and privately.

  • How do I fund my trust?

    Funding a trust involves transferring ownership of your assets into the trust, which can include real estate, bank accounts, and investments. We help our clients navigate the funding process with specific instructions and guidance, and concierge assistance is available with some of our plans.