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Articles from the 'Common Questions About Living Trust' series

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  • Common questions about living trust (part 2)

    Diana Wade, LDA|Jan 22, 2022

    Is it a good idea to put my house in a trust? The main benefit of putting your home into a trust is the ability to avoid probate. The probate process is a matter of public record, while the passing of a trust from a grantor to a beneficiary is not. Having your home in a trust can also help you avoid a multi-state probate process. Do you pay taxes on a living trust? Revocable trusts are the simplest of all trust arrangements from an income tax standpoint. Any income generated by a revocable...

  • Common questions about living trust (part 1)

    Diana Wade, LDA|Jan 8, 2022

    What is the main purpose of a living trust? A living trust is designed to allow for the easy transfer of the trust creator or settlor's assets while bypassing the often complex and expensive legal process of probate. Living trust agreements designate a trustee who holds legal possession of assets and property that flow into the trust. Is a living trust really necessary? Living trusts allow estates to avoid probate, the court process that otherwise oversees the paying of creditors and...