Living Trusts: The “Secret” You Already Know
In previous pages within this website, we’ve discussed what “living trusts” are, who the players are (“trustor”, “trustee”, “beneficiaries”), the legal requirements of creating a trust, and a slew of other information – actually, way more info than you really need to know.
But one of the articles, “Do You Need An Attorney To Prepare A “Living Trust“?, sort of cuts to the crux of most people’s questions.
Everybody wants to save money, every way they can, and cutting out the “middle-man” (the attorney) is one way to significantly reduce costs.
But can you safely create your own living trust, ensuring that all of your instructions will be legally enforceable and carried out, without a lawyer’s assistance?
Well … yea … you can.
As mentioned before, if money isn’t a concern, then by all means hire an attorney. If he or she does their job properly, then they’ll hold your hand and walk you through the entire process.
If you’re lucky, they’ll cover most of the information you’ve already read on the pages of this website.
At a minimum, they should explain to you, in plain simple English, what a living trust is and how it applies to your situation.
But attorneys who prepare living trusts for clients won’t tell you about a safe, affordable, alternative to using their services. Why? Obviously … they’ll lose money.
So, if you’re looking for an alternative, one that ensures that your wishes will be carried out, then you should consider Legalzoom.com.
The vast majority of American families have relatively simple estates. Not a bizillion dollars … but a home, some bank accounts, a couple of cars, etc. This is where Legalzoom comes in, without the need to pay an expensive lawyer.
You’ll get the same quality, and legally enforceable, living trust, but at a fraction of the cost and without all the legal mumbo-jumbo.
Legalzoom provides a simple question and answer (fill-in the blanks) format that everyone can complete. Creating a valid living trust ain’t rocket science, but it does need to be done properly (crossing all “t”s and dotting all “i”s). If you do it yourself, then you’re likely to skip some important element that needed to be included. That would make your DIY efforts useless, and defeat your objective (to avoid the lengthy probate process and costs/fees involved).
With Legalzoom, you’ll name your “trustor” (also called the “settlor” – means the same thing), your “trustee(s)”, and both primary and contingent “beneficiaries”. It’ll walk you through the process of identifying all of your assets that will be owned by your trust, and give simple instructions to make sure your new living trust has been completed properly.
Having said all of this, as well as sharing the unique content contained in all of this website’s pages, I have no problem recommending Legalzoom to you (and using my affiliate link).
To go to Legalzoom’s site, simply click here.