It’s common for people looking to create a “Living Trust” to believe their situation is simple. They’ll often say, “I don’t have much,” but then share that they own two properties and have significant savings. More often than not, this adds up to well over $2 million in assets, which makes creating a Living Trust that is accurate and comprehensive a bit more complex.
In these cases, it’s essential to ensure the properties are properly titled in the Living Trust. Additionally, subtle but critical legal clauses need to be included in the Trust to guarantee that your loved ones won’t end up paying avoidable taxes after you pass. These nuances are what make creating a Living Trust much more than just “filling in the blanks.” While software can handle basic information like names and dates, the expertise of an attorney is required to tailor the language to your specific circumstances.
If you want to ensure your heirs avoid unnecessary taxes and that your Living Trust is set up correctly, feel free to reach out to me.
