Kentucky Living Trust Attorney

Do you need a Kentucky living trust attorney?

Well, that depends on whether you need a Kentucky living trust. If you've spent some time on this site then you already know that living trusts have advantages and disadvantages.And they are certainly not for everyone.

See Living Trust Summary for a summary of the issue [well, sort of -- you'll see what I mean if you go there :) ]

The most common type of living trust is the "Revocable Living Trust" which allows you (the grantor) to put your assets into a trust. Most often people make themselves the trustee so that they continue to control the property in the trust. As far as your control of the property, there really is no difference from owning it in your own name as you do now.

But, if the trust is properly funded, then when you pass away, the successor trustee you name can pass the property and assets on to you beneficiaries without going through probate. This is just one of the advantages of a revocable living trust.

However, if the value of the assets of your estate that must be probated (probatable assets) is small enough (under $15,000) to avoid probate under Kentucky probate law (see KRS 395.455) then estate administration can be avoided and the assets dispensed almost immediately. So, obviously, if your estate is that small, there is little reason to use a living trust to avoid probate.

Even so, of course there are many other types of living trusts as well. A few of them include: listed here:

• Disability Trusts
• Special Needs Trusts
• Asset Protection Trusts
• Crummey Trust
• Charitable Trusts and
• Life Insurance Trusts (ILIT's)

If you are particularly wealthy, you might find a Dynasty Trust to be particularly rewarding for your future generations.

In any event, if you are thinking of getting an estate trust and you live in Lexington or Louisville or anywhere else in Kentucky -- you need a Kentucky living trust attorney. One great way to find one is by using Legal Match. Click on the link below to check them out.

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