As you get older in Connecticut, you might find it increasingly difficult to manage your assets. Fortunately, you don’t have to wait for a judge to place you under a conservatorship. You can establish a living trust and choose someone to manage your assets on your behalf.
Who needs a living trust?
If you’re worried about how your assets will be handled as you get older, you might need a living trust. When you make a living trust, you’ll choose the assets that you want to include. This might include real property, vehicles, jewelry, investments and other items. You’ll also choose a trustee who has the power to manage your assets on your behalf. You can either end the trust on a certain date or allow the trustee to remain in control of the assets for the rest of your life and after your death.
A living trust is also a great option for people who want to avoid putting their family members through probate. Any assets included in a trust are exempt from the probate process. This can save your family members a lot of time and stress after your death, allowing them to collect their inheritance as quickly as possible.
How to write a living trust
When you create a living trust, it’s important to get every detail right. Otherwise, you might end up causing legal headaches for yourself and your family members. To make sure you’re making the right decisions, it’s important to work with an experienced attorney who could assist you with other aspects of the estate planning process.