Do you know what Jimi Hendrix, Aretha Franklin, and Prince all had in common other than music? They passed away without a will or proper estate planning, leaving their families to navigate the lengthy and often stressful probate process. (source)
Losing a loved one is hard enough without the added cost, delay, and public scrutiny of probate—not to mention the potential disputes among heirs and creditors due to the public nature of probate records.
If you value your privacy and want to leave your family with peace of mind, a Living Trust might be the right choice to protect your loved ones from financial and emotional strain.
What Is a Living Trust?
Also known as a Revocable Living Trust (RLT), this legal document allows you to control and manage your assets during your lifetime and decide how they will be distributed after your death. One of the most common reasons people establish a Living Trust is to avoid probate—saving time, money, and reducing public exposure.
It’s important to note that a Living Trust is revocable while you’re alive, meaning you can make changes as needed. After death, it becomes irrevocable, locking in your instructions and helping ensure a smooth and fair transfer of your assets.
Other Benefits Include:
- Flexibility to adapt to your family’s needs through life changes like marriage, divorce, or death
- Privacy of assets and distribution—no public court process
- Lower costs when settling assets, especially across multiple states
- Ability to provide for minors by appointing a legal administrator
- Protection for vulnerable beneficiaries
A Living Trust isn’t for every family—but it’s also not just for the wealthy. It’s for anyone who wants to protect their estate’s privacy and ease the burden for their heirs while preserving their legacy.
Contact FCA Corp Today:
At FCA Corp, we know complex estate planning. Our advisory team, made up of individuals holding credentials such as CFP®, JD, CPA, and Tax-LLM, while working closely with their estate planning attorneys, has helped successful families design and implement comprehensive estate plans tailored to their needs. Get started today.
Note: This content is for informational and educational purposes only and should not be considered legal advice. Please consult with a qualified attorney or estate planning professional for advice specific to your individual situation. FCA Corp is not a Law firm.
