Don't Loose Control
I’m afraid I’ll lose control of my assets in a Living Trust. You won't.
First, you create a trust agreement with the help of a qualified estate planning attorney, who makes sure the document fulfills your wishes while staying within the bounds of trust law, debtor-creditor law, and marital law, bankruptcy law, and tax law. Among the provisions of your trust are your instructions for the trustee in regard to managing and distributing the assets for and to your beneficiaries-you dictate the terms which the new owner of your property (your trustee) must obey. There is no higher duty under the law than that owed by a trustee to a beneficiary.
As if that were not enough control, you can be the sole beneficiary of the trust during your lifetime. Your trust will contain instructions on how to take care of you during a legal incapacity and your instructions must be followed and your property used for your benefit. If you become disabled, you actually have more control over your property than you would have if you owned it outright, since without the trust your assets would be subject to a living probate.
And finally, for the ultimate in control, you can be your own trustee while you are alive and competent. You make all the decisions to buy, sell, give away, acquire, and use the property, just as you always did.
Let Waterford help you stay in control.