At Lyons Sullivan, we want to help with your probate and trust administration. Whether you need help creating a trust, or help accessing a trust after death, we can take care of your needs. There are a few different types of trust funds to decide between. We recommend choosing a living trust. Living trusts offer a fast and private way to transfer property after death. This also allows you to avoid the Washington probate process, since the trust is probate-free. A living trust cannot be used in place of a will because it will not allow you to do certain things, such as naming a guardian for a child. A living trust is just a way to transfer property more easily when a death has occurred.
How Much Does It Cost To Set-Up?
Setting up a living trust with a lawyer is a small price to pay to allow your loved ones to avoid the Washington probate process after your passing. As a standard, to prepare a living trust normally costs anywhere from $1,200 to $2,000.
How Do I Create A Living Trust?
The best way to ensure that your living trust is completed, and completed correctly, is to hire a lawyer. Your lawyer will walk you through the pros and cons of creating a living trust. They will also help you draft out a standard living trust that will help your loved ones to avoid the Washington probate process when sorting out your belongings after death.
What Does A Living Trust Offer?
In your living trust, you will have the opportunity to name beneficiaries, or the managers of beneficiaries who are under the age of 18. This allows you to directly leave large items such as vehicles and real estate to the people of your choosing, this also allows those people to collect their inherited items immediately.
Once your living trust has been created, to make it official you will have to sign it in front of a notary public. You must also transfer any property to be distributed into the names of the trustees using a deed or other standard document used to make transfers. For legal assistance with a living trust contact Lyons Sullivan today!