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!
 
 

Benefits of a Living Trust in Zip Code 59801

Benefits of a Living Trust in Zip Code 59801


If you want to really know what your friends and family think of you die broke, and then see who shows up for the funeral.
 
- Gregory Nunn


You can make your own basic Living Trust or create a living trust jointly with your spouse. There are many available types of living trust, though some are complicated and can only be used for certain circumstances.

Creating a Living Trust Online

  • Bypass Living Trust: This can be used for married couples with a combined estate that can surpass the estate tax threshold.
  • Special Need Living Trust: Leaving a property to someone with disability.
  • Spendthrift living trust: The beneficiary is someone deemed unable to control his spending and who cannot be trusted to manage money. This living trust will control the beneficiary's ability to spend money.

The Essentials in Creating a Living Trust

You need to decide the following before you begin building your online living trust documents at 12Law.com:

  • List of your beneficiaries
  • List of back up beneficiaries
  • List of young beneficiaries that require guardianship and property management until they reach adulthood
  • First and second choice of successor trustee


  • How to Create a Living Trust

    • Use 12Law.com to create your online living trust document. It shouldn't take long to think through what you want in this important legal document
    • Have your living trust document notarized. Sign your document in front of a notary public. Usually, banks offer free notary services
    • Transfer property into your living trust. Depending on the type of property you are transferring to your living trust, the transfer may take a few weeks to take effect. All property with a title or deed needs to have the title or deed documents updated. This step is absolutely essential.

    How to Change or Revoke Your Living Trust

    Restating or revoking your living trust by adding or removing property is done by transferring your property ownership back to yourself, updating the list of living trust property attached to the trust document and also by revising the property titles.


    When to Use a Living Trust

    Making a revocable living trust can fulfill your wish of giving your property to the beneficiaries of your choice. A living trust avoids any possibility of having the estate tied up in probate (a big advantage over a Last Will and Testament).

    A living trust can spare your family from the expense and delay of a probate that is common when using a will. It can prevent probate from tying up your real estate and other miscellaneous assets. If you have money in a bank, brokerage, and other retirement accounts it would be effective to name "payable-on-death" beneficiaries for each account.

    A living trust can ensure that what you bequeath remains confidential, except when it comes to real estate transfers that can be made public. Making a living trust is not much more complicated than making a will. The important thing to note, however, is to make sure that ownership of all the property you have indicated in the living trust document is legally transferred to the trust, with you as the trustee.

    It may be a good idea to appoint another trustee for the living trust., in case you become incapacitated. He or she will take care of your financial affairs when you are incapable of doing it and will take over the management of the trust assets after you die. The absence of a living trust will make the court arrange someone to take over the affairs you left behind.


    Individual or Shared Living Trusts for Couples

    A Living Trust can be individual or shared. Couples can make a probate-avoiding trust together as a shared living trust. This is preferable especially if you have large, jointly held assets. Needing to divide up the jointly owned property is avoided. Shared living trusts can also be useful to bequeath property to a surviving spouse.

    When one grantor dies, the property left to the surviving spouse stays in the living trust and does not need to be transferred. In the case of individual living trusts, the property left to the survivor has to be transferred from the living trust of the grantee to the survivors then to avoid probate, again placed in the survivor's living trust. Individual trusts may make sense in certain circumstances:

  • Both of you have signed an agreement that each spouse's earning and other income are separate and each of you wants to keep your property separately
  • You are newly married with little or no property together
  • You owned property before marriage and don't want it comingled with assets you will acquire together during the marriage. You will be in sole control of your own trust property.
  • Community Property States. Decisions you make may be affected by the community property laws of your state. This law states that, as a general rule, spouses should share income acquired during marriage 50-50. Properties earned during the marriage are a community property regardless of the name in the title.
  • Non- Community Property States. The name stated in the title document is considered the owner of that property. If you acquire property together, consider a shared living trust. If you own separate property, then an individual living trust may be appropriate for one or both of you
  •  
    Personalize & Print a Free MT 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 59801
    Fagan Christopher
    1821 South Ave W # 300
    Missoula, MT 59801
    (406) 721-9700
    Attorneys, Legal Service Plans
    Erickson Robert
    1821 South Ave W # 300
    Missoula, MT 59801
    (406) 721-9700
    Attorneys, Tax Attorneys, Mediation Services, Legal Service Plans, Admiralty & Maritime Law Attorney
    Johnson Chris A
    1821 South Ave W # 102
    Missoula, MT 59801
    (406) 721-9700
    Attorneys, Legal Service Plans
    Mungas
    1821 South Ave W
    Missoula, MT 59801
    (406) 721-9700
    Attorneys, Legal Service Plans
    Reely Shane N
    3819 Stephens Ave # 201
    Missoula, MT 59801
    (406) 541-9700
    Attorneys,  Tax Attorneys,  General Practice Attorneys,  Legal Service Plans
    Rhoades Quentin M
    1821 South Ave W # 300
    Missoula, MT 59801
    (406) 721-9700
    Attorneys
    Shoquist Liesel
    1821 South Ave W
    Missoula, MT 59801
    (406) 721-9700
    Attorneys, Legal Service Plans
    Sullivan Zane K
    1821 South Ave W # 300
    Missoula, MT 59801
    (406) 721-9700
    Attorneys
    Tabaracci John K
    1821 South Ave W # 102
    Missoula, MT 59801
    (406) 721-9700
    Attorneys
    Wagner Nathan B
    1821 South Ave W # 102
    Missoula, MT 59801
    (406) 721-9700
    Attorneys, Legal Service Plans
    Hess-Homeier M Joan PHD
    445 S 5th St W
    Missoula, MT 59801
    (406) 549-9611
    Attorneys, Landlord & Tenant Attorneys, Real Estate Attorneys, General Practice Attorneys, Legal Ser
    Hess-Homeier Ted
    445 S 5th St W
    Missoula, MT 59801
    (406) 549-9611
    Attorneys,  Landlord & Tenant Attorneys,  Real Estate Attorneys,  General Practice Attorneys,  Legal
    Geer Suzanne
    1615 S 3rd St W
    Missoula, MT 59801
    (406) 549-9524
    Accident & Property Damage Attorneys,  Attorneys,  Family Law Attorneys,  General Practice Attorneys
    Skjelset Doug G
    1615 S 3rd St W
    Missoula, MT 59801
    (406) 549-9524
    Attorneys,  Criminal Law Attorneys,  Social Security & Disability Law Attorneys,  Accident & Propert
    Marsillo & Schuyler
    103 S 5th St E
    Missoula, MT 59801
    (406) 543-8261
    Estate Planning Attorneys,  Attorneys,  Criminal Law Attorneys,  Family Law Attorneys,  Divorce Atto
    Binney Law Firm P C PC
    1001 S Higgins Ave
    Missoula, MT 59801
    (406) 541-8020
    General Practice Attorneys,  Attorneys,  Legal Service Plans,  Bankruptcy Law Attorneys
    Fletch Law P PC
    612 S 5th St W
    Missoula, MT 59801
    (406) 541-7307
    Social Security & Disability Law Attorneys,  Attorneys,  Accident & Property Damage Attorneys,  Corp
    Fletch Law P
    523 S Orange St
    Missoula, MT 59801
    (406) 541-7307
    Insurance Attorneys,  Attorneys,  Social Security & Disability Law Attorneys,  Personal Injury Law A
    Stevenson, Mathew M Stevenson Law Office
    1120 Kensington Ave # B
    Missoula, MT 59801
    (406) 721-7000
    Attorneys,  Criminal Law Attorneys,  DUI & DWI Attorneys,  General Practice Attorneys,  Legal Servic
    Shaffer Law Office
    405 S 1st St W
    Missoula, MT 59801
    (406) 543-6929
    Attorneys, General Practice Attorneys
    Badaruddin Shandor S
    736 S 3rd St W
    Missoula, MT 59801
    (406) 728-6868
    Attorneys
    Moriarity Badaruddin & Booke
    736 S 3rd St W
    Missoula, MT 59801
    (406) 728-6868
    Attorneys
    Shandor S. Badaruddin, Attorney
    736 S 3rd St W
    Missoula, MT 59801
    (888) 811-6626
    Litigation & Tort Attorneys,  Attorneys,  Accident & Property Damage Attorneys,  Personal Injury Law
    Graham Law Firm
    1008 South Ave W
    Missoula, MT 59801
    (406) 541-6444
    Attorneys, General Practice Attorneys, Corporation & Partnership Law Attorneys
    12Law.com   |  NASHVILLE, TN USA   |  CONTACT US