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Advantages To Simplifying Your Estate Planning With A Living Trust

Hiring a lawyer to create a living trust may seem like a more complicated way to do estate planning, compared to simply writing a will. However, the time and money you invest now could save your family stress and aggravation later. At the Law Offices of Aurelio Leo Lara, we have seen our clients who establish a living trust enjoy several clear benefits.

Advantage No. 1: Your Assets Are Easy To Find

Living trusts can be a simple way to gather your assets, particularly if you own property outside of Texas, or if you have stored your financial assets in a number of different accounts. You will provide a list of accounts to be included in the trust to our firm's attorney as part of your role as the living trust's settlor and first trustee; this will make it much easier for whomever you name as a successor trustee to manage your estate.

Advantage No. 2: Your Heirs Avoid The Probate Process

Many Texans choose to create living trusts to save their heirs the trouble of guiding their estate through the probate process. With a trust, your estate will never be required to go through probate.

Advantage No. 3: Your Estate's Privacy Is Preserved

One of the main disadvantages of probating an estate is that everything about it is public. An estate administrator is required to advertise that a probate case is active, and lists of assets involved in a probate case can become part of the public record. Living trusts are private, and your assets and distribution wishes remain private as well.

Advantage No. 4: Your Wishes Are More Likely To Be Respected

If there is any concern that your will might be contested, a living trust can be a solution to heading conflict off before it happens. If there is a challenge to a living trust during the settlor's lifetime, he or she may testify related to his or her wishes. During a probate case, the author of the will is no longer alive, so a challenge may have a greater chance of succeeding.

Contact Us Today About Establishing A Living Trust

Our firm serves estate planning clients in McAllen and throughout Hidalgo County. Learn more about living trusts by calling us at 956-928-3837 or emailing us via our online form.

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Law Offices of Aurelio Leo Lara
4124 N 23rd St #1
McAllen, TX 78504

Phone: 956-928-3837
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