Schedule A Demo

New Jersey Living Trust Attorney Christine L. Matus Explains the Pros and Cons of Creating a Living Trust

June 13, 2022
Download as PDF Single Release RSS Feed
Facebook Twitter Google Digg Reddit LinkedIn Email

New Jersey living trust attorney Christine L. Matus releases a new article (https://matuslaw.com/advantages-disadvantages-creating-living-trust/) explaining the pros and cons of creating a living trust. The lawyer mentions that a revocable living trust is similar to a testamentary trust but it is established while the owner is still alive. The owner also has the power to change or adjust a living trust as they see fit.

“In this type of trust, you can be both the trustee and the beneficiary if you so desire. You can also set up a non-revocable living trust, which means that you cannot alter or destroy it after it has been established. This financial tool has both advantages and disadvantages, and whether you should use it will depend on your goals for trust,” says the New Jersey living trust attorney.

New Jersey living trust attorney

The lawyer explains that living trusts are not often used today as it is in the past. However, there are still distinct advantages to establishing this type of trust. One advantage is that it can help avoid the probate court. A living trust can be used as a substitute for a Will. Upon the owner’s death, the trust will be converted to a testamentary trust.

Attorney Christine Matus adds that a living trust can also help address privacy concerns. This means that if a person uses a living trust as a Will substitute, they can avoid potential privacy concerns regarding probating a will. Since probating a will is a public proceeding, many people would like to avoid going through this process.

In the article, attorney Matus also mentions the disadvantages of a living trust. These disadvantages include limitations on transfers, no tax avoidance, and increased contesting periods. Once an asset is moved to a trust, it is important that a person follows the trust documents instructions on the assignment.

According to the estate attorney, “Some of the disadvantages of living trust really stem from misunderstanding the purpose and use of this estate planning instrument. For example, some people assume that any and all trusts are useful asset protection tools. This is unfortunately not the case; most living trusts will offer no asset protection.”

Lastly, attorney Christine Matus encourages families to seek the help of an experienced estate lawyer. Having a skilled estate lawyer may be able to help protect the estate and wealth the client has worked so hard for. It may also be able to protect the future of the client’s children.

About The Matus Law Group

The Matus Law Group has a team of estate attorneys who are committed to helping families and individuals in real estate transactions in New Jersey and New York. Through a team approach, they work hard to help their clients with their estate planning needs. Call The Matus Law Group today at (732) 785-4453.

The Matus Law Group

125 Half Mile Rd #201A, Red Bank, NJ 07701

(732) 785-4453



SOURCE: Press Advantage [Link]

Download as PDF Single Release RSS Feed
Facebook Twitter Google Digg Reddit LinkedIn Email

About Matus Law Group - Monmouth County:

The Matus Law Group is an experienced team of attorneys who can help you and your family plan for life, protect and care for loved ones with special needs, cope effectively with disability and death, and preserve inheritances for future generations.

Contact Matus Law Group - Monmouth County:

Christine Matus
Matus Law Group - Monmouth County
125 Half Mile Rd Red Bank, NJ 07701
(732) 785-4453

Social Media:

Additional News Releases From Matus Law Group - Monmouth County:

June 23, 2022New Jersey Estate Planning Attorney Christine Matus Discusses the Powers of Attorney in Estate Planning in the State of NJ

June 22, 2022New Jersey Special Needs Trust Attorney Christine Matus Discusses the Role of a Special Needs Trusts Lawyer

June 20, 2022New Jersey Real Estate Lawyer Christine Matus Explains the Six Factors To Consider Before Buying an Established Business

June 17, 2022New Jersey Estate Planning Attorney Christine Matus Discusses IEP and 504 Eligibility in New Jersey

June 16, 2022New Jersey Estate Planning Attorney Christine Matus Explains the Four Things to Revisit in the Estate Plan Each Year

June 14, 2022Monmouth County Estate Planning Lawyer Christine Matus Explains The Work Done by an Estate Planning Attorney in NJ

June 13, 2022New Jersey Living Trust Attorney Christine L. Matus Explains the Pros and Cons of Creating a Living Trust

June 10, 2022Monmouth County Probate Lawyer Christine Matus Explains the Role of a Probate Litigation Lawyer

June 09, 2022New Jersey Real Estate Lawyer Christine Matus Explains Who Pays Closing Costs in an NJ Real Estate Transaction

June 08, 2022Matus Law Group Welcomes New Additions to Their Legal Team

Website Preview: