Have you ever heard of a living trust? Has someone ever explained to you how great a living trust can be for the beneficiaries of those who have trusts? Maybe you’ve even wondered why doesn’t everyone have a trust if they are so great. Trusts do indeed have several advantages, but they are not perfect and they may not be the best estate planning method for everyone in Lee County.
At Levins & Associates, L.L.C. we understand that many people in Lee County probably have a lot of questions when it comes to estate planning. One of the common topics we get questions about is trusts. Trusts are used for many different situations in life, but overall trusts are used to protect your assets. On of the nice things about trusts is that they can be useful for many different situations. Plus, some trusts can help you avoid going through probate and other trusts can reduce the effects of taxation.
The holidays are here and that means most people will be exchanging gifts of all kinds. Receiving presents is always nice, especially when someone gets you that perfect gift. It’s also a great moment when you see a loved one’s reaction when they open the perfect gift from you. One Christmas gift that probably doesn’t come to mind for most people in Lee County is estate planning.
There are many aspects to estate planning, including wills, trusts, guardianships and many more. Although most people in Lee County have probably heard of living trusts not everyone is familiar with how they work. There are many other people who do not even want to broach the topic of estate planning simply because they’re not comfortable discussing their own death.
Most people have at least thought about having a will, which makes sense because a will is an important legal document that everyone should have. However, at Levins & Associates, L.L.C., we know that even though just about everyone knows they should have a will, there are many people who still don’t have one in place. In some cases this can turn into a bad situation for the family members and other loved ones of those who pass away.