New Jersey Living Trust Attorney Christine Matus Discusses the Importance of Living Trusts
April 26, 2022 at 22:42
New Jersey Living trust attorney Christine Matus releases a new article (https://matuslaw.com/living-trust-attorney-nj/) discussing the importance of having a living trust. The attorney mentions that a living trust is important for anyone with significant assets and those who wish to set how their assets will be managed or disbursed to their heirs when they are no longer able.
“Creating a living trust as part of a comprehensive estate plan may make sense for you, offering you access to assets while you are still alive and simplified access for those you love after you are gone. A living trust ensures that your assets will be distributed according to your wishes and makes the situation as stress-free as possible for your heirs,” says the New Jersey Living trust attorney.
The lawyer explains the basics of living trusts in this article. The living trust attorney states that trusts can be funded with the client's assets. The client can then act as a trustee. The trust will typically hold all or most of the assets of the client. These assets become the property and sole owner of the trust. The trust is then the sole owner of client assets. After the client's death, the trust can pass on the client's assets to its beneficiaries without going through probate.
Attorney Christine Matus also explains what assets or properties a client can place in a trust. The lawyer mentions the assets that may be placed in a trust are the client's primary residence, investment property, bank accounts, and retirement plans. They can also include stocks, bonds, IRAs, or businesses. Insurance policies can also be included. According to the attorney, assets must be transferred through the appropriate channels. Any assets that are acquired after the trust has been created will also need to be added.
According to the estate planning attorney, “A revocable living trust allows you, as the grantor and trustee, complete control of your assets during your lifetime. In addition, you can name a trusted successor trustee to immediately step in upon your death or incapacitation. This individual will manage your assets in a definable way should you become incapacitated and will distribute your assets according to the terms of the trust upon your death. In the meantime, your beneficiaries aren’t subject to the cost and delays of probate court.”
Attorney Matus closes the article by explaining that one might still need a will even if they have a living trust. A will is needed especially if there are minor children or if they still have other properties they didn’t put in the trust.
About The Matus Law Group
The Matus Law Group has a team of estate attorneys who are committed to helping families and individuals in real estate transactions in New Jersey and New York. Through a team approach, they work hard to help their clients with their estate planning needs. Call The Matus Law Group today at (732) 785-4453.
The Matus Law Group | Estate Planning Attorney and Real Estate Lawyer
125 Half Mile Rd #201A, Red Bank, NJ 07701
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Matus Law Group - Monmouth County
125 Half Mile Rd Red Bank, NJ 07701