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A Living Trust is a private contract where you can hold private assets in a trust and, if you die, pass them outside your estate to chosen relatives, friends and organizations. More and more families choose a living trust to protect themselves, their closest loved ones, their home and their business. At itsmylife, intelligent software makes it fast and easy for anyone to make a Living Trust, one of life’s outstanding protective documents, without an attorney.
A Living Trust ensures that you keep control as long as you’re alive and mentally competent. If there’s a change in either, there’s no need to freeze accounts or assets. The Living Trust permits a smooth handover of responsibility for the assets where it holds title. Your Alternate Trustee can take over without delay, and your Living Trust will reflect your wishes faithfully.
Your answers create a custom Living Trust for you, using attorney-approved wordings that meet the needs you express. Take control as Trustee and make a trusted friend or relative the Alternate Trustee, to take over the Trust in case you die or you’re incapacitated. Now, acting as Grantor, transfer some of your assets and possessions into the name of your Trust – itsmylife makes it easy for you to write the letters you’ll need.
Then, if you ever need to update your Living Trust, you can make changes and updates free for 12 months. After that date, your information in your account will be stored for you to access any time in the future when you can renew at a guaranteed discount price.
The itsmylife Living Trust is revocable, so you can change your wishes or close the Trust at any time. When you update your Living Trust, itsmylife automatically produces a Re-Statement of your entire Living Trust. This keeps it simple – you have just one document, instead of an original plus lots of individual Amendment documents.
A Living Trust can reduce or remove the expense, delays and loss of control so commonly caused by Probate. With a Living Trust, transfer of your possessions to the people you choose can be a smooth process, far away from courts and public view – and faithfully following your wishes.
Challenges to Living Trusts are very, very rare and almost never successful because they have to be mounted in civil court rather than probate court – and, rather than suing just the estate (as would be the case for a Will), any challenge against a Living Trust must be against each beneficiary of that Trust.
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