Wyoming Living Trust Attorney

This is the right place if you are interested in learning more about living trusts and Wyoming living trust attorneys. There are qualified estate lawyers in Casper, Rawlins, Gillette and many other towns in Wyoming. Hopefully, by reading further, you will see a need to talk to one.

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Living trusts are becoming an increasingly popular way of keeping your estate out of probate court when you pass on. If your assets are over $100,000 they could easily get tied up in probate court for months, costing your heirs valuable time and money.

The advantages don't stop with avoiding probate court. If your estate is valued at over a million dollars there are estate tax saving benefits to look into. At present, any estate valued at over two million dollars, becomes subject to a federal estate tax. This amount is being reduced to one million in 2011. A correctly formed living trust can utilize you and your spouses Unified Credit, possibly saving large amounts in taxes for your heirs.

A living trust is much harder to contest than a will. The property in you trust will be passed on to your heirs, by your assigned successor trustee, in an uncomplicated and fast process. The same property, if left in a will, could be tied up in probate court for months and contested by your beneficiaries. Property from other states can be included in a trust, reducing the chance of going to probate court in different states. There is also a degree of privacy involved with a trust as the property involved remains out of the public record.

A will is still needed in most cases. Guardianship of children and pets needs to go into your will. Any property left out of your living trust should also be put into your will. Even if everything is in your trust it is still a good idea to create a simple will. All it has to say is "all property not in my trust, for any reason, goes to John Doe". It's a little extra insurance that everything will go smoothly when you are gone.

Trusts are easy to start up and require very little ongoing maintenance. Your living trust can be funded with just about anything. You can include your savings account, life insurance policies, bonds, stocks, real estate as well as your personal property.

If you have decided to create a living trust you will need a little help getting started. Simple trusts are fairly easy to create with the help of web sites such as Legal Zoom. Visit this site for additional information, forms, books and software.

Make Your Own Living Trust

The more assets you have the more complicated your living trust can become. We strongly recommend spending a little time talking with an estate planning expert. They can advice you about all the different ways your trust will interact with your will, taxes and laws. The peace of mind knowing it is all done correctly by a Wyoming living trust attorney can be priceless.

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