Easy Questions  
Free Legal Documents

Do I Need a Living Trust in Albany, OR

Do I Need a Living Trust in Albany, OR


Never say you know a man until you have divided an inheritance with him.
 
- Johann Kaspar Lavater


What is a living trust?

Living trust refers simply to the trust you create while alive. Trust is an agreement under one person called the trustee who can hold legal title to property for another person called the beneficiary. Having your own living trust and be the trustee of the same is possible. You will be responsible of keeping control over all property held in trust.

Does a living trust go through probate?

No, a revocable living trust does not go through probate after you die. The successor trustee you have appointed will just transfer ownership to the beneficiaries you have mentioned in the trust. The whole process usually takes only a few weeks with no court fees or lawyers to pay. If the transferring of property is done to the beneficiaries, the living trust will no longer exist.


Is Living Trust expensive to make?

No, a revocable living trust is not that complicated to make and you will find that it is fast, easy and affordable at 1-2-Law.

Is it a hassle to hold property in a living trust?

No, you won't need a lot of paperwork and administrative hassle to create a living trust, unlike the experience when you transfer a property directly to a beneficiary.

Is a living trust document ever made public like that of a will?

No, the terms of living trust are not divulged to the public, which is a benefit when compared to a will.


Does living trust provide protection from creditors?

No. A creditor who wins a lawsuit against you can go after the trust property and claim it as payment for what you owe.

Does a living trust protect property from creditors after I die?

Generally, after you die, all property you owned including assets held in a living trust is subject to your lawful debts. A creditor who wins a lawsuit against you can go after all the properties under your name and claim it in behalf of what you owe. However, since the living trust is not a public document, creditors will have a difficult time identifying who has inherited your properties.


If I make a living trust, do I also need to make a will?

Yes. Your will serve as an essential back-up document for the properties you were not able to transfer to yourself as a trustee. If you have a will, it will clearly state where those properties will go. In the absence of a will, your properties will go to the closest relative in an order determined by the state law.

Can a living trust reduce estate taxes?

A simple probate-avoidance living trust has no effect on state or federal estate taxes. Deaths occurred in 2014 with estates valued at more than $5.34 million will pay federal estate tax. This amount is indexed for inflation and will go up in the future. Most estates in the US are less than the $5.34 million personal exemption.

 
Personalize & Print a Free OR Living Trust Download this Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Page 11
Page 12
Page 13
Page 14
Page 15
Page 16
 
Personalize & Print a Free OR Power of Attorney Download this Document
Page 1
Page 2
Page 3
Page 4
Page 5
Related Legal Services near Albany, OR
Beckham, David B
319 6th Ave SW
Albany, OR 97321
(866) 654-9965
Attorneys, Probate Law Attorneys, Wills, Trusts & Estate Planning Attorneys
Mc Ginty & Belcher PC
130 1st Ave W
Albany, OR 97321
(503) 371-9636
Attorneys, General Practice Attorneys, Legal Service Plans
Brown Melinda M
138 7th Ave SW
Albany, OR 97321
(541) 223-9502
Litigation & Tort Attorneys,  Attorneys,  Accident & Property Damage Attorneys,  General Practice At
Nelson & MacNeil PC
213 Water Ave NW Suite 100
Albany, OR 97321
(541) 223-9493
Civil Litigation & Trial Law Attorneys,  Attorneys,  Malpractice Law Attorneys,  Accident & Property
Smith Anita A
127 Broadalbin St SW # 6
Albany, OR 97321
(541) 704-9308
Attorneys
Olsen Eric W
734 Lyon St S
Albany, OR 97321
(541) 928-9242
General Practice Attorneys, Attorneys, Legal Service Plans
Legal Aid Svc
433 4th Ave SW
Albany, OR 97321
(541) 926-8678
Attorneys, Legal Clinics
Devilleneuve, David Shlesinger & De Villeneuve
1135 Dale St SE # B
Albany, OR 97322
(541) 928-8446
Social Security & Disability Law Attorneys,  Attorneys,  Personal Injury Law Attorneys,  General Pra
James A Marshall PC
240 1st Ave W # A
Albany, OR 97321
(541) 926-7976
Attorneys, Legal Service Plans
Shlesinger & deVilleneuve Attorneys PC
1135 Dale St SE Suite B
Albany, OR 97322
(541) 223-7846
Bankruptcy Law Attorneys, Employee Benefits & Worker Compensation Attorneys, Business Bankruptcy Law
Long Delapoer Healy McCann & Noonan PC
201 1st Ave W
Albany, OR 97321
(541) 497-7825
Social Security & Disability Law Attorneys, Attorneys, Criminal Law Attorneys, Family Law Attorneys,
Kent Hickam
250 Broadalbin St SW Suite 210
Albany, OR 97321
(541) 704-7574
Probate Law Attorneys,  Attorneys,  Family Law Attorneys,  Divorce Attorneys,  Accident & Property D
Cascade Bankruptcy
433 4th Ave SW
Albany, OR 97321
(541) 704-7568
Business Bankruptcy Law Attorneys,  Attorneys,  Bankruptcy Law Attorneys,  General Practice Attorney
D Mack Walls Attorney
430 Washington St SW
Albany, OR 97321
(541) 791-6924
Attorneys, Litigation & Tort Attorneys
Norman Gary E
433 4th Ave SW
Albany, OR 97321
(541) 928-6193
Attorneys, General Practice Attorneys, Legal Service Plans
Delsman David E
430 Washington St SW
Albany, OR 97321
(541) 926-6191
General Practice Attorneys, Attorneys
Carlson, Robert D - Kryger Alexander Egan Elmer
507 Washington St SW
Albany, OR 97321
(541) 928-6171
Attorneys,  Social Security & Disability Law Attorneys,  Accident & Property Damage Attorneys,  Corp
Daniels Edward L
220 6th Ave SW # 201
Albany, OR 97321
(541) 928-5875
Attorneys,  General Practice Attorneys,  Legal Service Plans,  Family Law Attorneys,  Divorce Attorn
Sager-Kottre Kristen
220 Sixth Avenue Sw, Suite 201
Albany, OR 97321
(541) 928-5875
Attorneys, General Practice Attorneys, Family Law Attorneys
Reid Roger H
135 5th Ave SW
Albany, OR 97321
(541) 926-5804
General Practice Attorneys, Attorneys
Mc Cann Jr Robert C
201 1st Ave W
Albany, OR 97321
(541) 926-5504
Attorneys, General Practice Attorneys, Legal Service Plans
Delapoer James V B
201 1st Ave W
Albany, OR 97321
(541) 926-5504
Attorneys
Jarvis Matthew L Attys
201 1st Ave W
Albany, OR 97321
(541) 926-5504
Attorneys, General Practice Attorneys
Healy F James
201 1st Ave W
Albany, OR 97321
(541) 926-5504
Attorneys, General Practice Attorneys, Legal Service Plans
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US