It’s not necessary to hire an attorney to set up a living trust, you can make it and manage it by yourself.
What is living trust?
Living trust is a form of legal documentation which you make while you are alive and will be managed and distributed after your death. You can choose a trustee who will manage and distribute your assets beneficiaries after your death.
Living trust is it documentation can be revocable and rewritten if you change your mind and want a alteration inform of choosing a trustee or a beneficiary. This document defines single or multiple beneficiaries, the way assets will be managed and distributed.
How to create living trust without an attorney?
To create a living trust you just need a trustee and the name of beneficiary, complete details of assets, how that will be managed and distributed among the beneficiaries.
It’s very important to make a trustee and a alternate trustee for backup. You can make any person as a trustee or a company or a bank. The beneficiaries maybe the person to whom you trust or your family members or your spouse.
All these information should be on the government stampped legal document which can be typed by you or you can take a help of any document writer. Once you have prepared this document and executed then you must sign it in front of notary or public witness. You do not need to show it add any legal office or in a court.
Benefit of creating living trust without an attorney?
As the process of making living trust by yourself you do not require to pay bill to any lawyer or attorney just for making this legal document. If you involve any attorney or a lawyer to make a this legal document they may charge you a good enough amount which is not required.
When do you need attorney for living trust?
Though the making of living trust legal document is very easy and does not require any attorney or a lawyer to make it however there is a case when your assets are huge and you want that to be managed and distributed amongst beneficiaries without any disputes.
In this case attorney or a lawyer can help you out to make it more stronger living trust document so that it will be transparent and make more legal statements in document to avoid dispute when you are not alive.
What to do after making living trust?
As you have already executed the living trust document just keep it as a safe place and in form your trustee where it is placed so that they can access it when it is required.
living trust document is a very easy process and not required a lawyer or attorney to be involved in any stage of making it or changing it or cancelling the complete living trust document.