Personal Benefits of A Trust
Typically, when we think of the benefits of Estate Planning, it is usually within the context of the benefits to our surviving friends, family and dependents. However, at the Kushner Legal Corporation, we remind our clients that the use of Trust-based estate plans can have a number of significant benefits for the trust-maker themselves.
Benefit of Estate Planning and Trusts
A common concern which is raised during estate planning consultations is a discussion of the impact of incapacity and how that can effect an estate plan. A critical benefit of Trust-based estate plans is that the Trust will often name a successor Trustee who can step in as trustee in th event of an incapacity. The successor trustee can manage the Trust assets and this can avoid the need for an undesirable and costly legal proceeding like a guardianship or a conservatorship. This also provides the trust-maker with the security knowing that should they become incapacitated, there will be protections in place to ensure their wishes are respected. Trusts can act as shields to protect from court interference while a trust-maker is alive and this is a significant to the use of a trust instead of a will.
Benefit of a Trust
A second personal benefit to the use of a Trust is privacy. Trusts are private processes and they are administered outside of the purview of the public probate court process. Probate can be costly and time consuming and requires the notification of potential successors, trust based planning avoids these issues entirely.
Kushner Legal Estate Planning Attorneys in Los Angeles
If you require assistance with Estate Planning or have questions about the benefit of trust-based planning, contact the Kushner Legal Corporation today to schedule a consultation.