Living Trusts (also called Management Trusts) are revocable legal documents that, like a will, specify who is to handle your affairs after you die and who will receive your assets.

Unlike a will, however, a Living/Management Trust...

• Avoids the probate process for assets contained in the trust
• Contains instructions on handling your affairs such as paying bills, investing, etc. in case of incapacity
• May include language that will eliminate or reduce estate taxes for your heirs
• Is revocable and changeable (unless you become incapacitated or pass away)

Revocable Living/Management Trusts have a variety of other key benefits including...

• Creates peace of mind for you and your family
• Gives maximum privacy
• Lets you keep assets in Trust until beneficiaries reach age(s) when you want them to receive their inheritances
• Is more difficult than a will to protest
• Can be amended or revoked at any time (prior to your incapacity)
• Can protect and direct care for dependents with special needs
• Allows you to serve as your own trustee to keep maximum control while you are living... OR... in case of incapacity, you may choose to have easier, more efficient administration of your assets by Lutheran Foundation of the Southwest professionals
• Minimizes emotional distress on your family upon your passing
• Prevents court control of your assets at your physical or mental incapacity
• Often speeds distribution of assets to beneficiaries, especially with smaller estates
• Includes provisions for the accounting of income, paying bills and filing appropriate tax returns

Your LFSW consultant can answer any further questions you might have and develop specific illustrations for your personal estate planning needs and goals.

For a no-cost, no-obligation consultation in the privacy of your home, please complete the free offers page on this website or call 1-800-424-0447.