The Coronavirus Makes a Living Trust an Even More Important Document
A living trust is a revocable instrument, executed during your lifetime, that could help you considerably in the event that you come down with the Coronavirus or any other illness. It is a way for you to give control of your assets to someone you trust explicitly while you are sick or otherwise unable to handle your affairs.
To ensure that your living trust is properly prepared, you should consult with an attorney with knowledge and experience in this area of law. The offices of Robert L. Bolick, Ltd. can help.
Mr. Bolick has been practicing law for nearly forty years in estate planning and asset protection. Martindale-Hubbell, the premier lawyer rating service, has awarded Mr. Bolick its highest rating in both professional competence and ethics.
Living Trusts Can Help
A living trust is something that you create during your lifetime to hold your assets during your life and to distribute your assets upon your death. You typically are the sole trustee and beneficiary throughout your life.
Your trust serves as a will substitute, directing how your estate is to be distributed at your death without the time, expense, and hassle of sending your heirs through probate. It can also avoid a “will contest” to ensure that your wishes are followed regardless.
Nevada law also permits you to create an Asset Protection Trust which cannot only avoid probate but can protect your assets from any future creditors. Nevada Asset Protection Trusts are universally recognized as the best and strongest of their kind in the nation.
Is a Trust Really Necessary?
Everyone with even a modest amount of assets should consider creating a living trust. Your assets held in trust are not subject to probate.
Probates in Nevada take over a year, on average, cost 3% to 5% of the value of the estate, can be contested, are a public proceeding and generally are a major hassle for your beneficiaries. By creating a living trust, you can pass your assets to beneficiaries directly without probate.
If you would like the benefits of a living trust, you should act now, before the need arises. Contact Mr. Bolick, an estate planning lawyer who’s highly experienced in asset protection, by calling 702-690-9090 or visiting the contact page.
