Why should I have a Living Trust?

Address: 3573 E. Sunrise Drive, Suite 209, Tucson, AZ, 85718, US
Telephone: (520) 529-4000

June 22, 2018

Not only does a Living Trust provide for the disposition of your property (like a Will), but it also offers the following benefits:

Provides for the immediate transfer or trust management and distribution in the future of assets after death
Allows for a smooth transition of management upon incapacity or death
Avoids the expense and hassle of probate proceedings
Minimizes estate taxes and defers payment of estate taxes for married couples
Allows for continued control over assets after death or incapacity
Provides security to you and your loved ones
Protects your children’s inheritance from their own potential divorce
Safeguards your estate for your kids if your surviving spouse remarries
Offers flexibility

In this day and age it is very rewarding and comforting to make a major decision for the long-term security of your family. Over 14 years ago we decided upon the Kinghorn Heritage Family to create our family trust. Through the years it became very evident that this decision was a major and necessary step for a secure future in an ever-changing legal climate. The Kinghorn Family has been a close friend that has always been there to serve our family.

Gary and Velma T. Client Review September 8, 2020

We appreciate the programs presented that keep us informed and updated in today’s internet and financial world. It is a comfort to know that you are only a phone call away if questions arise.

Robert and JoAnn H. Client Review September 8, 2020

We enjoyed meeting all the behind-the-scenes people on your team and want to thank you for the peace of mind you’ve given us and our children.

M.D. Client Reveiw September 8, 2020

What an amazing law firm, where the people I refer to them are handled as good friends, family, and confidantes.

Eileen E. Client Review September 8, 2020

Thank you Allison and Kinghorn Law family for everything you have done to make our end-of-life decisions a reality and stress free. When we think of Kinghorn: trust, peace of mind, professional. Outstanding Law Firm!

Ken and Cheryl V. Client Review September 8, 2020

Very satisfied with your company and staff.

Robert and Britt O. Client Review September 8, 2020

Once you create an estate plan, you’ll wonder what took you so long in the first place. Not only does it give you and your family peace of mind, but it also provides you a greater sense of organization.

But before you get too excited, here’s something to remember: your estate plan is likely to require some changes as you age.

Your circumstances can and will change as the years go by. When this happens, you don’t want to wait to review your estate plan. You’re likely to find that a few changes are necessary to ensure that it remains exactly how you want it.

Before we discuss specific times to review your estate plan, here’s a tip: make it a habit to review your estate plan at a certain time every year or every other year. The interval doesn’t matter nearly as much as getting into the habit of doing this.

Now, let’s talk about some of the times you should definitely review your estate plan:

Family life changes, such as marriage, divorce, having a child, or adoption
Financial changes, such as if you won the lottery or received a large inheritance
Personal changes, such as if the executor of your will has passed away

These aren’t the only times to review your estate plan, but they definitely call for you to take action.

Take for example a situation in which you get divorced, remarry, and then have a child with your new spouse. This will alter your estate plan in many ways, so you need to keep it nearby as your life evolves.

If you’re taking the time to create an estate plan, you should also take the time to keep it up to date.

Should you have any questions as you review your estate plan, contact us for guidance. We’ll make sure you make the right changes at the right time.

Chandler V. Client Review September 8, 2020

Estate Planning attorneys are sometimes criticized for offering needlessly complex, 'canned' solutions. This never has been the case with Kevin. The documents he created were comprehensive when appropriate and surprisingly simple when suitable. In every case, they were individually crafted to meet our unique needs.

Rich D. Client Review September 8, 2020

<< Prev

Next >>

Footer

Connect with Us