As a lawyer who handles estate planning and wills in the Woodlands can explain, a living trust is a written document that any property owner can create during his or her lifetime. Just like a will, a living trust is usually created by a will attorney and spells out your exact wishes regarding your assets, your dependents, and your heirs.
The difference between wills and living trusts is that wills only become effective after you die and your estate has entered into probate. A living trust can be beneficial where it is advisable to bypass the probate process. In such an event, your named trustee can carry out your instructions regarding your property after you die. Where you are unable to manage your financial, healthcare, and legal affairs due to illness or incapacity, then your trustee may also be given control over such matters.
For a lawyer who handles wills and estate planning and can help you establish a trust, contact Andrew J. Bolton, Esq. of Spring, TX. Our experienced attorneys have years of experience handling wills and trusts. You can reach us at (936) 435-1908.