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!
 
 

FAQs on Living Trust in Zip Code 29201

FAQs on Living Trust in Zip Code 29201


Good plans shape good decisions. That's why good planning helps to make elusive dreams come true.
 
- Geoffrey Fisher


A Living Trust is also known as "inter vivos", Latin for "among the living". It is a trust arrangement you create while you are still alive.

What is a Living Trust?

A Living Trust is an arrangement where a trustee is assigned to hold legal title over the property of another person or beneficiary. You can be the trustee of your own living trust to ensure full control of all the properties indicated in the document.

There are different types of living trust that can help avoid legal processes of proving the validity of a will, reduce estate tax, and create a long-term property management.

Why Make a Living Trust?

A living trust can avoid an expensive legal process to prove the legality of a will. Properties that are left through the trust are protected from probate. The process usually takes months before the beneficiary gets anything. After the proceedings, some of the value of what has been left would have been already consumed by attorney's fees and other legal charges.

Does a Living Trust Prevent Probate?

Yes, the appointed trustee would handle the transfer the ownership of the property to the beneficiaries outlined in the trust, without needing to go through probate. This process only takes weeks and may completely avoid all lawyer and court fees. When all the trust assets have been completely transferred to the beneficiaries, the living trust simply ceases to exist.

Is it expensive to create a living trust?

No, creating a living trust at 12Law is fast easy and very affordable.

Is it difficult to hold property in a Living Trust?

No, holding property, and transferring property into and out of a trust are not particularly difficult to administer.

Is there a possibility that a living trust will be made public like a will?

No, unlike a will, a living trust does not need to be made public.

Will a living trust protect you from creditors?

No, creditors who win a lawsuit against you can go after your property even if it is placed in a trust. All your properties held in trust are subject to your lawful debts. This is true even after you pass away, but the confidentiality of a living trust may make it difficult for creditors to identify beneficiaries.

If I have a Living Trust, do I still need a will?

Yes, you need a will to cover any assets that have not been transferred into your living trust. Your will can stipulate the beneficiaries of your entire estate, whereas the living trust only addresses assets that were placed into the trust.

The distribution of your of your assets if you die without a will would depend on the law of the state in which you reside. Typically, it goes to the closest relatives. It is up to the state court to decide, so if you want a say in the distribution of your residual estate, it is important to make a will alongside your living trust.

Can a living trust reduce estate taxes?

A living trust has no effect on the state or federal tax, all the trust assets will be added to your personal estate. However, only estates that are worth more than $5.34 million in 2014 (indexed for inflation) will owe federal estate tax.

 
Personalize & Print a Free SC 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 29201
Jones Greg
1612 Marion St
Columbia, SC 29201
(803) 213-9994
Attorneys, Social Security & Disability Law Attorneys, Accident & Property Damage Attorneys, Persona
Masella Law Firm, PA
917 Calhoun St
Columbia, SC 29201
(803) 748-9990
Attorneys,  Criminal Law Attorneys,  Divorce Attorneys,  Workers Compensation Assistance,  Personal
Masella Law Firm, PA
917 Calhoun St
Columbia, SC 29201
(803) 748-9990
Attorneys, Criminal Law Attorneys, Divorce Attorneys, Workers Compensation Assistance, Personal Inju
Leddy Law Firm
2008 Lincoln St
Columbia, SC 29201
(803) 779-9966
Attorneys,  General Practice Attorneys,  Legal Service Plans,  Criminal Law Attorneys,  DUI & DWI At
Bill Condon Law Firm
1403 Calhoun St
Columbia, SC 29201
(803) 403-9860
Securities & Investment Law Attorneys, Attorneys
Mcmahan Moritz R
1320 Main St # 17
Columbia, SC 29201
(803) 255-9819
Attorneys
Attorneys Lee Eadon Isgett Popwell & Reardon PA
1314 Lincoln St
Columbia, SC 29201
(803) 799-9811
General Practice Attorneys, Attorneys, Legal Service Plans
Carruth, Carl B
1221 Main St
Columbia, SC 29201
(803) 799-9800
General Practice Attorneys, Attorneys
Corley Wayne O Atty
1301 Gervais St
Columbia, SC 29201
(803) 799-9800
General Practice Attorneys, Attorneys
McNair Law Firm PA
1221 Main St
Columbia, SC 29201
(803) 799-9800
Real Estate Attorneys, Attorneys, Probate Law Attorneys, Wills, Trusts & Estate Planning Attorneys
Johnson & Barnette LLP
1230 Richland St
Columbia, SC 29201
(803) 799-9791
Attorneys, Legal Service Plans, Labor & Employment Law Attorneys, Civil Litigation & Trial Law Attor
D'alberto Daniel R /Atty
1320 Main St
Columbia, SC 29201
(803) 255-9754
General Practice Attorneys, Attorneys
Brumgardt, Thomas A
1320 Main St
Columbia, SC 29201
(803) 255-9743
Attorneys
Johnson Toal & Battiste PA
1615 Barnwell St
Columbia, SC 29201
(803) 252-9700
Employee Benefits & Worker Compensation Attorneys,  Attorneys,  Criminal Law Attorneys,  Personal In
South Carolina Legal Services
2109 Bull St
Columbia, SC 29201
(803) 799-9668
Legal Service Plans,  Attorneys,  Attorneys Referral & Information Service,  General Practice Attorn
Bland Richter
1500 Calhoun St
Columbia, SC 29201
(803) 256-9664
Malpractice Law Attorneys,  Attorneys,  Legal Service Plans,  Personal Injury Law Attorneys,  Corpor
Hart & Sercer LLC
5000 Thurmond Mall
Columbia, SC 29201
(803) 252-9655
Attorneys, Family Law Attorneys
Mills Robert W
1728 Main St
Columbia, SC 29201
(803) 252-9648
Attorneys, Criminal Law Attorneys, Legal Service Plans
Apex Forensics
3407 River Dr
Columbia, SC 29201
(803) 319-9638
Structural Engineers,  Litigation Support Services,  Consulting Engineers,  Forensic Engineers,  For
McElveen & McElveen
2229 Bull St
Columbia, SC 29201
(803) 799-9581
Attorneys, Criminal Law Attorneys
Mullis, Pamela R
1229 Elmwood Ave
Columbia, SC 29201
(803) 799-9577
Attorneys,  Accident & Property Damage Attorneys,  Corporation & Partnership Law Attorneys,  General
Chris Mills Law Office
2008 Lincoln St
Columbia, SC 29201
(803) 748-9533
Attorneys,  Criminal Law Attorneys,  Mediation Services,  Arbitration Services,  Legal Service Plans
Chris Mills Law Office
2118 Lincoln St
Columbia, SC 29201
(803) 748-9533
Criminal Law Attorneys, Attorneys, Discrimination & Civil Rights Law Attorneys
Mills Chris
2008 Lincoln St
Columbia, SC 29201
(803) 748-9533
Attorneys, Criminal Law Attorneys, Mediation Services, Arbitration Services, Legal Service Plans, Ge
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US