Trust

Create a Trust Document

At TrustHandled, we understand that it can be expensive and time-consuming to have a lawyer create a trust document. That’s why our platform offers an efficient, cost-effective option to help secure the financial future of you and your loved ones.

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What is a Trust?

A trust is a legal document that allows you to assign assets, such as real estate or investments, for the benefit of yourself or loved ones. This means that when you pass away or become incapacitated, those assets are transferred according to your wishes without having to go through the lengthy process of probate court. It also allows for easier management of those assets should you become incapacitated before passing away.

Why Should I Create a Trust?

Creating a trust can provide many advantages for you and your designated beneficiaries:

  • It provides flexibility when transferring ownership of your assets after death or incapacity.
  • It allows you to control who will receive what asset.
  • You can name individuals or organizations as trustees – meaning they would ultimately manage these assets according to your wishes.
  • You can also name individuals who may be responsible for medical decisions if you become incapacitated.
  • Your estate will avoid probate court entirely.
  • You can alter any terms related to the trust at any time while alive.
  • Lastly, it keeps all personal finances private from the public eye.

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What Could Happen If You Don’t Have A Trust?

There are several potential consequences of not having a trust in place:

  • Your assets may not be distributed according to your wishes: Without a trust, your assets will be distributed according to the laws of intestacy, which may not reflect your preferences.
  • Your family may have to go through probate: If you don’t have a  trust, your assets may have to go through the probate process, which can be time-consuming, costly, and stressful for your loved ones.
  • Your family may experience financial hardship: If your assets are tied up in probate, your family may not have access to the financial resources they need to pay bills and maintain their standard of living.
  • Your wishes may not be respected: A trust allows you to specify your end-of-life medical care preferences and appoint a healthcare power of attorney. Without a trust, these important decisions may be left to family members or a court-appointed guardian.
  • Your privacy may be compromised: The probate process is a matter of public record, which means that your financial affairs may become a matter of public knowledge. A  trust allows you to keep your financial affairs private.

Overall, having a  trust in place can provide peace of mind and ensure that your assets are managed and distributed according to your wishes, even if you become incapacitated.

Why You Should Create & Store Your Trust With TrustHandled?

Our trust document service is easy to use and cost-effective. We offer competitive prices that are far lower than what a lawyer would charge, meaning you can save money while ensuring all your important documents are in order.

With our streamlined service, you no longer need to worry about tracking down a lawyer or navigating complex legal paperwork—we do the hard work for you.

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What Are The Steps Involved In Creating A Trust?

  1. Choose your trustee(s):

    This could be yourself, another individual, or even an institution/organization. This decision should be based on whom you believe could best handle managing and administering the property included in the trust once it is established.

  2. Decide what property (if any) should go into the trust:

    Real estate properties, investments, artwork/valuables, etc., if applicable depending on individual circumstances).

  3. Name your beneficiaries:

    These are typically family members or friends but could also include charitable organizations such as churches and schools.

  4. Submit information via our online form

    Which includes identifying details about all relevant parties (yourself included), property specifics (location, etc.), as well as beneficiary details like contact info/addresses, etc.). We then review everything with each customer step-by-step before submitting it for legal filing with an appropriate state agency.

  5. Upon completion,

    we store all documents securely within each customer’s own personalized “vault” within our platform- so everything is organized in one place!

We understand that creating a trust document is no easy decision – but doing so now can give both you and your designated loved ones peace of mind for years to come knowing that everything has been taken care of properly! So don’t wait – take advantage of our cost-effective solution today and get started creating your trust document!

Frequently Asked Questions

In a trust, you can transfer your property to a trustee who will manage it for the benefit of the trust’s beneficiaries.

A trust can assist you in avoiding probate, safeguarding your assets from debtors and legal action, and ensuring that your loved ones are taken care of after your passing.

Trusts come in a variety of forms, each with particular advantages and goals, such as revocable trusts, irrevocable trusts, and special needs trusts.

You must designate a trustee to oversee the trust and produce a trust agreement outlining its conditions to establish a trust. The trust must also be funded through the transfer of assets into it.

You could be able to modify or cancel a trust at any moment, depending on the form; nevertheless, certain trusts might be irrevocable.

Yes, as long as you have the mental ability to do so, you are always free to modify or cancel a trust. This can entail changing the trust agreement or drafting a brand-new agreement. To guarantee that the trust modifications are genuine, it’s crucial to adhere to the legal requirements set out by your state.

Depending on the kind of trust and the exact provisions of the trust deed, the tax consequences of a trust might change. In general, trusts must pay income tax on any profits made from the assets they own. If the trust’s worth surpasses specific limits, there can also be estate tax repercussions. It’s crucial to speak with a tax expert if you want to fully grasp the tax repercussions of your particular trust.

A: Based on the type of trust and your specific situation, the assets that can be included in a trust may vary. Properties, savings or investments, and other forms of property are frequently kept as assets in trusts. It’s crucial to seek legal or estate planning advice before choosing the assets that go into your trust.

Trusts can help you avoid probate, pay less in estate taxes, and manage your assets in the case of incapacity or handicap, among other advantages. Additionally, trusts can provide beneficiaries more freedom in how assets are distributed and can assist safeguard assets from possible risks like creditors.

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