#estateplanning

A living trust is a legal arrangement that lets you decide how your assets are managed and distributed during and after your lifetime. A living trust “owns” the property you put into it, while often still letting you control the trust assets. It is an estate planning tool that can help family members and beneficiaries avoid a lengthy, public, complex, and sometimes costly, probate process. A living trust takes the form of a legal document. The document lays out the terms of the trust and the assets that the grantor assigns to it.

Cost-Effective Solution: Easy Living Trust offers a living trust creation service for $800, significantly cheaper than traditional attorney fees of $3,000–$5,000.

Did you know? "Payable On Death" contracts are not subject to probate or to becoming a part of countable assets in an estate? It is true.

Now...What is a Payable on Death contract? Payable on death (POD) is an arrangement between a bank, credit union, or insurance company and a client that designates beneficiaries to receive all the client's assets. The immediate transfer of assets is triggered by the death of the client. A life insurance policy naming a beneficiary specifically is a payable on death contract.