What is the Purpose of a Living Trust?

The Living Trust is a versatile legal strategy that can provide an additional layer of protection for your assets and properties. One of its most prominent functions is the ability to transfer ownership of assets while maintaining continuous control over them. Surely, you’ve wondered at some point, what is the purpose of a Living Trust?

One of the main advantages of a Living Trust is the flexibility it offers in terms of estate planning. In addition to avoiding costly succession procedures, this instrument can provide solid protection against potential lawsuits or divorce situations, as the assets are considered property of the trust and not of the individual.

It is important to note that, although the Living Trust offers protection against succession procedures and certain events such as divorces, it does not grant immunity against lawsuits during life. The assets held in the trust are not exempt from possible legal claims during the lifetime of the grantor.

In conclusion, a Living Trust is a powerful tool for estate planning that can protect your assets and simplify the transfer of assets to your loved ones. Although it offers security and privacy, it is essential to understand its limitations and seek legal advice to maximize its effectiveness in protecting your assets during your lifetime and after your passing.

Now that you understand the purpose of a Living Trust, it’s time to learn more about this topic. Schedule an appointment today with me and my team, and we’ll clarify all your doubts and guide you to make the best decision. Click here.

Disclaimer: I am not a lawyer and I do not provide tax or legal advice. My content is for informational and educational purposes only and should not be considered legal, tax, investment, financial or any other advice.