A living trust is a legal document that allows an individual, known as the grantor, to transfer their assets into a trust during their lifetime. The assets are then managed by a trustee for the benefit of the beneficiaries named in the trust.

There are several benefits to establishing a living trust, including:

• Avoiding probate: Assets held in a living trust do not go through the probate process, saving time and money for your beneficiaries.
• Privacy: Unlike a will, a living trust is not a public document, so the details of your estate plan remain private.
• Flexibility: A living trust can be easily updated or amended during your lifetime to reflect changes in your circumstances.
• Disability planning: A living trust can provide instructions for how your assets should be managed if you become incapacitated.
• Avoiding conservatorship: A living trust can help avoid the need for a court-appointed conservator to manage your assets if you become unable to do so yourself.

While a living trust can be beneficial for many individuals, it is particularly useful for those with complex or high-value estates, blended families, or specific wishes for how their assets should be distributed. Consulting with an estate planning attorney can help determine if a living trust is the right option for you.