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What can you do with a living trust?

Below are nine things you can do with a living trust. Reduce estate taxes. If you are married, the trust can provide for estate tax savings. In Massachusetts, for example, a properly drafted and administered trust can save a couple approximately $100,000 in estate taxes on the death of the second spouse. Protect minor children.

What are the benefits of a living trust?

1. Avoid probate. A living trust will allow you to transfer assets legally to your beneficiaries without having to undergo a costly and lengthy probate process in which a court will recognize a will and appoint an executor or representative to administer the estate. 2. Protect your privacy.

How do living trusts work?

A living trust will allow you to manage and transfer your assets to your beneficiaries after your death. In order to do this, you must establish this trust during your lifetime. As a legal document, it will set the rules and provisions to govern your assets.

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