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Thursday, October 22, 2015

Considering A Trust

Agnes wants to be sure her adult children don’t have any trouble selling her rental property and cashing in her other assets after her death.  Since they both live out of state, she really doesn’t want them to have to do any court proceedings here in Illinois to do it.

Her friend, Dick, suggests that she see an attorney about getting a living trust.  “But I’m not ready to pay a bank to be in charge of my property yet,” Agnes answered him, dismayed. 

“I don’t think a bank would be involved at all,” Dick said, “and you need to do something to make things easier even if it’s not a living trust.  Go see an estate planning attorney, and ask how you can make it easier.”

Unless Agnes wants a bank in control, there is in fact no reason that a bank would be involved, just as Dick had thought.  Agnes will learn in the next few columns about the three hats she could wear herself by serving as grantor, trustee and beneficiary, if she decides to use a living trust to make things easier and less expensive for her children after she passes away.

For answers about living trusts, wills or probate for yourself or someone you know who needs help with estate planning, call our office at (815)436-1996 to receive free informational brochures and information, or to set an appointment for individualized analysis of your specific situation. 

© 2015 Gruber Law Office, Ltd.


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