Yes, you can freely transfer assets and property, such as real estate, in and out of the trust during your lifetime. In most cases, you'll act as your own trustee while you're alive. After your passing, the trust's management will shift to your chosen successor trustee. For joint trusts, any transfers of co-owned property will typically require approval from the co-trustee.

Yes, it's important to have a will even if you have a living trust. A will covers any assets that weren't transferred to your trust. Our living trust package includes a pour-over will, which ensures that any remaining assets are passed to your beneficiaries through the trust. Additionally, a will allows you to appoint guardians for your minor children.

Both a Last Will and Testament and a Living Trust offer unique benefits, and choosing between them depends on your personal goals and life situation. Understanding the key differences can help you decide which is right for you: A Will:

• Takes effect only after you pass away.
•  Covers property solely in your name at the time of death.
•  Allows you to name a guardian for minor children and specify funeral arrangements.
•  Must go through probate, which can be time-consuming.
•  Becomes public record, and any related transactions are also public

A Trust:

• Becomes active as soon as it's created, meaning your trustee can manage your estate if you fall ill or become incapacitated.
• Only covers assets transferred into the trust
• Bypasses probate, saving time and costs associated with the process.
• Provides privacy since trusts are not public record.
• Can help plan for disability or reduce estate taxes.

Neither option is inherently "better." It all depends on your circumstances and preferences. In many cases, both a will and a trust may be used together to address different needs.

A Last Will and Testament does not need to be filed with the county until after the person who made the will passes away. Filing the will, along with any required forms, begins the probate process at that time.

The requirements for a Last Will and Testament vary by state, but it's highly recommended to have your will signed by two disinterested witnesses and notarized. This helps strengthen the document’s validity and ensures it holds up in court if ever challenged.

Everyone over the age of 18 should have a Last Will and Testament. While it’s not easy to think about, having a will ensures your loved ones know your wishes regarding guardianship, property, and assets after you pass. Some key life events when creating or updating a will is especially important include: the birth or adoption of a child, getting married or divorced, purchasing a home or other property, or facing ongoing health concerns.

A living trust may help reduce estate taxes, depending on how it's structured. For more detailed advice, it's a good idea to consult with an estate planning attorney to determine the best approach for your situation.

No, you cannot place your 401(k) or certain other retirement accounts into a living trust. However, you can designate your trust as a beneficiary of these accounts. It’s best to consult with a trust attorney for guidance on which assets can be included in your trust

No, you're not legally required to hire a lawyer to create your living trust. However, since everyone’s situation is unique, you may want to consult an attorney, especially if you have a large or complex estate or a child with special needs. Some of our living trust packages include access to legal advice, offering unlimited 30-minute consultations on new legal matters.