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THINK CAREFULLY IF YOU ARE CONSIDERING A LIVING TRUST

A living trust is a useful tool when you are creating an estate plan. It is imperative to know that these trusts aren't appropriate for everyone in every situation. If you are considering a living trust, you should think carefully about it because there are some instances in which this option might not be worth the time or effort.

One thing that might mean that you don't need a living trust is if you are healthy. Typically, younger people who are healthy wouldn't need to set up a living trust. These trusts don't help you during your lifetime, but they do help your loved ones after you pass away.

If you are married and plan on having your spouse take control of everything when you pass away, you likely don't need a living trust. Instead, you can use other avenues to get the assets to your spouse. Even if your spouse does need to go through probate, the process will likely be less expensive and take less time than setting up a living trust.

If you have a small estate, you likely won't need to have a living trust established. A living trust is a good way to protect assets from certain creditor claims, so unless you think that this will be an issue and you have a fairly large estate, you won't need to spend the time to get a living trust started.

Creating an estate plan involves many different things. A living trust is only one possibility, so think carefully about your options before you make any decisions regarding your estate plan.

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