Do You Need a Living Trust?

Do You Need a Living Trust?

When people hear that we are a Family Law Firm, they often think we only handle divorce cases. However, there are a lot of other things that occur at a family law office. At Parra Harris Law we do handle divorces, however we also handle adoptions, wills, living trust, and other matters related to families and the law.

One question that comes up with clients is whether or not they need to have a living trust. This is a great question that can be answered after an attorney evaluates the clients needs and what the client wants to do with his or her assets after they are no longer living.

What is a Living Trust?

Generally speaking, a living trust is a legal document that allows you to spell out what happens to your assets during your life and after your death. It can be changed by you at any time. By making yourself the trustee of your trust (and transfer your assets to your trust), you make the decisions. There are many reasons to consider setting one up:

  • A trust may help your family members receive their inheritance more quickly because they can avoid probate court.
  • A living trust allows you to name a back-up person other than yourself.
  • They can help you pass on your assets in a certain way to your beneficiaries. For example, you may want your assets to find care for a disabled relative. Or you may want your assets to pay for college for your beneficiary at a certain age. A living trust lets you spell out exactly how you want the distribution to occur.

If you have questions about writing a will or a living trust, or if you are wondering which option is right for you, contact the experienced lawyers at Parra Harris Law: 904-900-1617

Paola Parra Harris