Trust Lawyer St. Peters, MO
Regardless of the value of your estate, it is important to plan for the future of your family and the distribution of your assets after you pass away. The last thing loved ones want to do is deal with legalities in the midst of their sorrow after losing a cherished family member. Creating a living trust with the help of a trust lawyer in St. Peters, MO can help people have peace of mind that their loved ones will be provided for after their passing.
A living trust is a legal arrangement whereby your assets are placed into that trust for safekeeping throughout your lifetime until you pass on. (They are not physically moved; rather, their ownership transfers from you to the trust). Our trust lawyer in St. Peters, MO from Legacy Law Center understands how sensitive this topic may be, as most people do not look forward to thinking about what happens after their death.
In the article below, we have listed five tasks that can help you and your trust lawyer in St. Peters, MO create a comprehensive living trust.
1. List Your Assets
A good place to begin is to list of all your valuable assets. Assets can include artwork, jewelry, property, stocks, life insurance, bank accounts, etc. By creating this list now, it can help you determine which items or funds you want distributed to which beneficiaries.
2. Organize Your Important Documents
Once you have created your list of assets, create a folder and choose a safe place to store all of your documents relevant to your trust. When meeting with our trust lawyer in St. Peters, MO from Legacy Law Center, he may ask you to provide copies of life insurance policies, titles, deeds, etc. Gathering these documents beforehand can make the process of creating your living trust much easier.
3. Choose Beneficiaries for Your Legacy
For your living trust you will need to list the beneficiaries who shall receive an assigned portion of your assets. Beneficiaries can include family members, friends, organizations, charities, mentors, or anyone else you choose.
4. Appoint a Successor Trustee
When creating a living will, you can name yourself as the trustee to retain control over your assets. The successor trustee is the person whom you want to manage your debts, distribute assets to your beneficiaries, and perform your other instructions in the trust after you pass away. This person should be responsible, and someone you trust will have your best interests in mind.
5. Choose a Guardian for Your Underage Children and Pets
You cannot assign a guardian for your minor children in a living trust, but you can create a will to specify these wishes. You can also choose someone to take care of your pets after your passing. You can also leave funds for your pets’ needs. Talk to your trust lawyer in St. Peters, MO to learn which methods may work best under the circumstances.
Talk to our trust lawyer St. Peters, MO counts on at Legacy Law Center — call us today to schedule a free and confidential consultation.