What is a Living Trust?
A living trust is a revocable trust which goes into effect during a person’s lifetime. A properly funded living trust will avoid probate. Avoiding probate is important to many as the probate process is often a costly and time-consuming process. In addition, a living trust is private, as it need not be filed with the Court, and allows the designated trustees to manage the trust without Court oversight.
With a living trust, you can maintain control of your assets and manage them during your lifetime, while providing for a quick and easy distribution of your property according to your wishes at death. In addition, a living trust can also provide an orderly management of your financial affairs should you become incompetent, and avoid the necessity of a guardianship, also a time-consuming and costly process.
Our living trust lawyers in Cleveland can help you with all your elder law matters.
Living trust & elder law attorneys you can rely on
Contact The Cleveland-based Perla Law Firm today to discuss a living trust and other elder law matters.