Trusts Peoria, IL
Is a Trust Right For Me?
An estate plan starts with either a will or a living trust. Like a trust, a will provides instructions on how you want your assets divided after you’re gone, but it does not avoid probate. The average probate procedure can take six to nine months, but complications and challenges to the will cause the process to last longer. This is why many families prefer creating a living trust, but a trust is much more complex than a will. When it comes to creating trusts in Peoria, IL, you can trust Brave Law Center, P.C. to keep your interests and goals in mind, and make sure you have the perfect estate plan for you.
The Advantages of a Living Trust
A living trust is a trust created while you are alive. Living trusts are more flexible than wills, but they are also more complex. You cannot dissolve a trust as quickly as you can dissolve a will, but a trust can continue to hold your assets after you are gone. These assets would be managed by a trustee you selected until your beneficiaries reach the age when you want them to inherit your assets. Living trusts can provide you with the perfect framework to hold assets, invest assets, and keep your life’s work in the hands of your family and out of the hands of the court.
Do I Need a Trust?
Not everyone needs a trust. For some, a simple will is enough. If you decide that a trust is right for you, there are also many different types of trusts to choose from. For example, there are:
- Revocable trusts
- Irrevocable trusts
- Charitable trusts
- Tax by-pass trusts
- Spendthrift trusts
- And more.
To choose the right trust for you, call the experienced attorneys at Brave Law Center, P.C. We will listen to your estate planning goals and objectives, and advise you on the best estate plan for those goals.