A living trust is one of the most flexible tools in estate planning. Unlike a will, a properly funded living trust allows your assets to pass to your beneficiaries without court supervision.
Why consider a living trust
- Avoid probate — assets held in the trust transfer privately and promptly.
- Incapacity planning — your named successor trustee can manage affairs if you cannot.
- Continuity — the trust remains in effect regardless of changes in your circumstances.
What belongs in the trust
Real estate, investment accounts, and titled assets are common candidates. Retirement accounts and life insurance typically pass by beneficiary designation and are handled separately.
Every plan should be tailored to your family, your assets, and the laws of the jurisdictions where you live and hold property — particularly here in the District of Columbia and Maryland.
This article is for general information only and is not legal advice. Schedule a consultation to discuss your situation.