What Can A Living Trust Do For Me?

There are many benefits to a living trust. Set up and funded properly, it can make sure that your assets are maintained for your benefit if you become disabled. Upon your death, it can ease transition of ownership to your designated heirs and can make sure your wishes are respected.

Many people believe living trusts are a fool proof way to protect their assets from creditors. This is a myth. During your lifetime, Illinois law allows your creditors to attach your beneficial interest in a living trust set up for your benefit. A trust can, however, be used to protect assets from the claims of creditors of your named heirs.

If you are considering a living trust as part of a comprehensive estate plan, please contact us.