When written properly, a revocable, living trust offers a probate-free, fast and private way to transfer your property upon your death. A revocable, living trust also provides a straightforward mechanism for managing your assets in the event of your incapacity. While such a trust is not a total substitute for your will, it is a more efficient way to transfer your property privately at the time of death.
If you have decided to use a living trust to help your beneficiaries avoid the probate process, you should be aware of your options for proceeding. Many people are under the impression that they can use a generic form or template to accomplish this goal on their own. However, long experience teaches that trying to keep costs down by doing it on your own is riddled with problems.
Small mistakes in verbiage of your trust or the structure of your trust or transfer documents can have large implications. Working with an experienced estate-planning attorney will help you say things in the right way and properly transfer your assets into trust.
This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice regarding Should I Make A Living Trust By Myself?, or any other estate planning matters, please feel free to contact Stephen L. West at 480.461.5341,or Curtis M. Chipman at 480.461.5329. You can also log on to udallshumway.com, or contact an attorney in your area. Udall Shumway PLC is located in Mesa, Arizona and is a full service law firm. We assist Individuals, families, businesses, schools and municipalities in Mesa and the Phoenix/East Valley.