If you’re looking for help with putting together a living trust in Madison, WI, you’re off to a good start taking care of your family’s financial future. A living trust is a document that can help secure your family’s financial situation. Many people don’t think they need them, but the fact remains that having one in place can help head off a ton of drama once a loved one has passed on. Listed below are three reasons that getting a living trust is a great idea.
Reduced Estate Tax
If you have a large estate to pass on, a living trust can allow you to take advantage of all types of deductions and credits that are permitted under current tax laws. Speak with estate planning attorneys about your specific situation so that you can figure out which deductions apply to you.
No Probate
By making sure that you have a living will to divide up your assets, you’ll be able to ensure that there won’t be any probate once you’re gone. While probate can be straightforward, it can also take a long time, especially when it involves a contested or complex will.
Privacy
Unlike wills, living trusts are private, so any information regarding inheritances, property disbursements, and the like are completely private. This means that any information regarding your heirs and what they’ve inherited will be completely shielded from the public eye.
Contact Horn & Johnsen SC so that we can help you put together a living trust in Madison, WI.
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