New Jersey living trust attorney Christine Matus (https://matuslaw.com/living-trust-attorney-nj/) discusses the importance of having a living trust in her new article. The attorney explains that a living trust is important for anyone with significant assets and those who wish to set how their assets will be managed or disbursed to their heirs when they are no longer able.
“Creating a living trust as part of a comprehensive estate plan may make sense for you, offering you access to assets while you are still alive and simplified access for those you love after you are gone. A living trust ensures that your assets will be distributed according to your wishes and makes the situation as stress-free as possible for your heirs,” the New Jersey living trust attorney says.
In the article, living trust attorney Christine Matus also explains how living trusts work. The living trust lawyer says that a trust can be funded using the client’s assets. The client is allowed to act as a trustee. The trust will usually hold the majority (or all) of the client’s assets. These assets then become the property of the trust. The trust becomes the sole owner of the client’s assets and can then be passed on to their beneficiaries via the trust after the client’s death without the need to go through probate.
Attorney Matus explains the properties or assets a client can put in a trust in this article as well. Here, she mentions that assets that can be put into a trust include the client’s primary residence, investment properties, bank accounts, retirement plans, stocks, bonds, IRAs, businesses, insurance policies, and cash. The attorney adds that assets must be transferred to the trust through the proper channels and that any assets acquired after the trust is created will also have to be added to the trust.
In this article, Ms. Matus also discusses the benefits of having a revocable trust. A revocable living trust is also another form of estate planning. The lawyer says that a revocable trust may not be the best option for everyone, but it can be important for those who have significant assets. A revocable living trust can also be a good option for those who have a property in other states, have special needs loved ones, or have a large extended family where probate can become complex and time-consuming.
Attorney Matus closes the article by explaining that one might still need a will even if they have a living trust. A will is needed especially if there are minor children or if they still have other properties they didn’t put in the trust.
About The Matus Law Group
The Matus Law Group has a team of estate planning 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
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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.