When people think of how their affairs will be handled after they pass away, they typically imagine a written will that is then executed by a court, a process known as probate. While probate is certainly one possible option available to people who are engaged in estate planning, living trusts present an attractive alternative. Furthermore, many living trusts can now be created and managed digitally. Continue reading to find just three of the biggest benefits offered by online living trusts.
Make Changes Easily
One of the biggest benefits of living trusts is how flexible they are. Since the assets held in a trust are available to the trustee while they are still alive, a trust can be altered in any way the trustee sees fit. The existence of online living trusts means that changes are just a few clicks away; there's no longer any need to schedule a consultation with an attorney and spend hours revising a physical document.
Some people are hesitant when it comes to setting up a living trust because they fear an invasion of privacy. Fortunately, living trusts actually operate in such a way as to protect your privacy. Rather than having the details of your estate exposed to the public through the probate process, you can instead have the trust disclose all information and transfer all assets to the trustee you have chosen to succeed you. Verified online trusts also take all necessary steps to ensure that this commitment to privacy is never compromised, storing your information in remote server clusters beyond the reach of identity thieves and hackers.
Keeping Peace of Mind
Perhaps the biggest advantage of an online living trust is the ease with which you can establish permanent peace of mind. Many people who procrastinate in their plans to make a will do so because of the time and money involved. Online living trusts, on the other hand, often offer a more affordable and convenient path toward estate planning without additional worry or anxiety. Once you have an online living trust set up, you can rest easy knowing that everything will be handled exactly as you have articulated it in the trust. For example, you can purposefully give one person access to your digital assets and accounts while keeping that same information from others. Not only that but the peace of mind this brings is extended to any event in which you are incapacitated.
Keep these tips in mind when looking for online living trust services.