Easy Questions  
Free Legal Documents

Do I Need a Living Trust in Alledonia, OH

Do I Need a Living Trust in Alledonia, OH


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 OH 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 OH Power of Attorney Download this Document
Page 1
Page 2
Page 3
Page 4
Page 5
Related Legal Services near Alledonia, OH
Alfred D. McCallin, Esq.
116 Cleveland Ave NW # 500
Canton, OH 44702
(330) 453-9999
Probate Law Attorneys, Real Estate Attorneys, Collection Law Attorneys, Estate Planning Attorneys
Pundzak Lynn D
830 Main St # 999
Cincinnati, OH 45202
(513) 564-9999
Corporation & Partnership Law Attorneys, Attorneys, Labor & Employment Law Attorneys
Pundzak Lynn D
830 Main St, Suite 999
Cincinnati, OH 45202
(513) 564-9999
Civil Litigation & Trial Law Attorneys, Discrimination & Civil Rights Law Attorneys, Labor & Employm
Ambrose James T
130 W 2nd St # 999
Dayton, OH 45402
(937) 229-9999
Attorneys,  Attorneys Referral & Information Service,  General Practice Attorneys,  Legal Service Pl
Morello and Bond LTD
116 Cleveland Ave NW
Canton, OH 44702
(330) 454-9960
Legal Service Plans,  Accident & Property Damage Attorneys,  Personal Injury Law Attorneys,  Crimina
Finkelmeier Law Firm
36 E 7th St # 1660
Cincinnati, OH 45202
(513) 621-9921
General Practice Attorneys, Attorneys, Legal Service Plans
Steiden Eric A
830 Main St # 401
Cincinnati, OH 45202
(513) 684-9900
General Practice Attorneys, Attorneys, Legal Service Plans
Osborne Wesley W
2511 Marion Mount Gilead Rd
Marion, OH 43302
(740) 389-9894
Attorneys,  Wills, Trusts & Estate Planning Attorneys,  General Practice Attorneys,  Estate Plannin
Proctor-Donald Beverly
401 Tuscarawas St W
Canton, OH 44702
(330) 580-9880
Attorneys,  Personal Injury Law Attorneys,  Family Law Attorneys,  Divorce Attorneys
L. Patrick Mulligan & Associates L.P.A. Co.
225 West Court Street
Cincinnati, OH 45202
(513) 421-9790
Mon-Fri 9am-5pm, Sat Closed, Sun Closed
L. Patrick Mulligan
28 N Wilkinson St
Dayton, OH 45402
(937) 228-9790
Divorce Attorneys, Attorneys, Criminal Law Attorneys, Divorce Assistance, Family Law Attorneys, Lega
Andreoff Alex & Associates
1 S Limestone St
Springfield, OH 45502
(937) 323-9783
Social Security & Disability Law Attorneys,  Attorneys,  Accident & Property Damage Attorneys,  Empl
Andreoff Alex & Associates
1 S Limestone St Ste 310
Springfield, OH 45502
(937) 323-9783
Attorneys
Davis Jr Myron Y
700 Walnut St # 209
Cincinnati, OH 45202
(513) 241-9773
Attorneys, Legal Service Plans
Schmenk Gerald E
20 N Limestone St
Springfield, OH 45502
(937) 323-9739
General Practice Attorneys, Title Companies, Attorneys
DeGirolamo, Anthony J
116 Cleveland Ave NW
Canton, OH 44702
(330) 588-9700
Bankruptcy Law Attorneys,  Attorneys,  Business Law Attorneys,  Business Bankruptcy Law Attorneys,  
Stone M Blake
25 S Mulberry St
Mansfield, OH 44902
(877) 595-9681
Social Security & Disability Law Attorneys,  Attorneys,  Accident & Property Damage Attorneys,  Pers
Helmick Bertha G
810 Sycamore St # 4
Cincinnati, OH 45202
(513) 651-9666
Family Law Attorneys, Divorce Assistance, Attorneys
Denicola & Co Lpa
36 E 7th St # 2020
Cincinnati, OH 45202
(513) 621-9660
Personal Injury Law Attorneys, Litigation & Tort Attorneys, Attorneys
Foltz Law Offices LLC
122 Central Plz N
Canton, OH 44702
(330) 456-9656
Divorce Attorneys,  Attorneys,  Criminal Law Attorneys,  Family Law Attorneys,  Accident & Property
Gupta Shawn
1324 State Route 125
Amelia, OH 45102
(513) 752-9455
General Practice Attorneys, Attorneys
Young Reverman & Mazzei CO LPA
1014 Vine St #2400
Cincinnati, OH 45202
(513) 770-9444
Adoption Law Attorneys,  DUI & DWI Attorneys,  Social Security & Disability Law Attorneys,  Attorney
Marinakis & Marinakis
605 Sycamore St
Cincinnati, OH 45202
(513) 684-9393
General Practice Attorneys, Attorneys, Legal Service Plans
Hammond John R
4 W Main St
Springfield, OH 45502
(937) 327-9370
DUI & DWI Attorneys,  Attorneys,  Personal Injury Law Attorneys,  Criminal Law Attorneys,  Divorce A
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US