12Law Arrow 12Law Arrow  Easy Questions  
12Law Arrow 12Law Arrow Instant Legal Documents
 
 
FINANCIAL & MARITAL

Cohabitation Agreement coming soon!
Separation Agreement coming soon!
No-Fault Divorce coming soon!
Bankruptcy coming soon!
 
 

Do I Need a Living Trust in Zip Code 70761

Do I Need a Living Trust in Zip Code 70761


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


A Living Trust refers simply to a property-owning legal entity you create while alive.

What is a Living Trust?

A Trust is an agreement whereby one person called the trustee 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 12Law.

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 LA Living Trust Create 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
Related Legal Services near Zip Code 70761
Spires John G
218 Davenport Ave
Mer Rouge, LA 71261
(318) 647-9915
Attorneys, Legal Service Plans
Turgeau Law Firm
513 Magnolia Ln
Slidell, LA 70461
(985) 781-8883
General Practice Attorneys, Attorneys, Legal Service Plans
Gary J. Williams
750 E I 10 Service Rd
Slidell, LA 70461
(985) 641-8640
Attorneys,  Estate Planning, Probate, & Living Trusts,  Personal Injury Law Attorneys,  Family Law
Gray Thomas
113 Doubloon Dr
Slidell, LA 70461
(985) 641-8335
Criminal Law Attorneys,  Attorneys,  Legal Service Plans,  Bankruptcy Law Attorneys
Alford & Alford
384 Voters Rd Ste 103
Slidell, LA 70461
(985) 643-6440
Attorneys,  Title Companies,  General Practice Attorneys,  Legal Service Plans
Branton & Associates
200 Commercial Sq
Slidell, LA 70461
(985) 641-4798
Divorce Attorneys,  Attorneys,  Criminal Law Attorneys,  Family Law Attorneys,  Personal Injury Law
Brandt, Robert C
750 E I 10 Service Rd
Slidell, LA 70461
(985) 641-3700
Attorneys,  Personal Injury Law Attorneys,  Family Law Attorneys,  Estate Planning Attorneys,  Colle
Ellender, Daniel J
202 Davenport Ave
Mer Rouge, LA 71261
(318) 647-3311
General Practice Attorneys, Attorneys, Legal Service Plans
Clayton Ben E
200 Commercial Sq # D
Slidell, LA 70461
(985) 863-3065
Attorneys, Corporation & Partnership Law Attorneys, Legal Service Plans, Employee Benefits & Worker
Glorioso Brian
2990 Gause Blvd E # B
Slidell, LA 70461
(985) 643-3004
Attorneys
Nick Law Firm
676 E I 10 Service Rd
Slidell, LA 70461
(985) 641-1802
Attorneys,  General Practice Attorneys,  Legal Service Plans,  Criminal Law Attorneys,  Family Law A
Gregory Reardon
303 S Military Rd Ste 5
Slidell, LA 70461
(985) 649-1555
Attorneys, General Practice Attorneys, Legal Service Plans, Corporation & Partnership Law Attorneys,
Lauren Kaufman Navarre
200 Commercial Sq
Slidell, LA 70461
(985) 685-1478
General Practice Attorneys, Attorneys, Legal Service Plans
Albe Jr Joseph G
200 Commercial Sq # D
Slidell, LA 70461
(985) 718-1170
Corporation & Partnership Law Attorneys,  Attorneys,  Accident & Property Damage Attorneys,  General
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US