Do You Want Security and Protection?
Do you want to save money, speed up the transfer of property to your loved ones, and maintain your privacy? There are many ways to do this, but what is right for one person may be different for that of another. First, you could give away everything while you’re still alive. If that is not realistic, you could have jointly owned real estate with a survivorship right. You could name a person as a beneficiary on financial accounts (Pay-on-Death or POD). Or you could establish a trust. If you establish a revocable trust, you can be the trustee who controls the assets, and retain the right to revoke the trust at any time. Assets in a trust are owned by the trust entity, rather than you as an individual. Contact Elder Law Firm for a 15-minute consultation to discuss your situation.