When drafting a living trust, there are a number of considerations one must make.

A living trust is a popular way to transfer assets to a trust during the trust creator’s lifetime – and to avoid probate proceedings after the trust creator has died. People also create living trusts to reduce taxes, ensure financial privacy, and regulate the use of assets (in case they become incapacitated).

Here are three questions you’ll need to ask yourself when drafting a living trust:

If you’re drafting a living trust, these are just some of the first questions you’ll want to ask yourself. Because each person’s estate planning needs are different, it’s wise to consult an experienced estate planning attorney near you to discuss your unique situation.

  • Trusts: An Overview (FindLaw)
  • How to Avoid Probate of Your Estate (FindLaw’s Law and Daily Life)
  • Legalese 101: What is a Trust? (FindLaw’s Law and Daily Life)
  • An Attorney-Drafted Will and Annual Updates Are Included With a Legal Plan From LegalStreet (LegalStreet.com)(Disclosure: LegalStreet and FindLaw.com are owned by the same company.)

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