Trust Overview

What is a Trust?

A Trust is a legal arrangement where you assign a third party, known as a Trustee, to manage your assets based on your instructions. Unlike a Will, which kicks in after your death, a Trust starts working the moment you sign it and continues while you're alive. This setup can help manage your affairs if you can't make decisions yourself, ensuring your wishes are clear and reducing stress for your loved ones now and in the future.

What's included in a Trust-Based Estate Plan?

The Trust-Based Estate Plan includes several essential documents:

• Revocable Living Trust: The primary document that outlines the management, control, and distribution of your assets during your life and after your death.
• Pour Over Will: Specifies your final wishes regarding your possessions, dependents, and arrangements, and transfers any remaining assets into the Trust after your passing.
• Advance Healthcare Directive (Living Will): Details your preferences for healthcare and medical treatment, serving as guidance if you are unable to make decisions. This document includes a Medical Power of Attorney.
• HIPAA Authorization: Grants trusted individuals access to your protected health information for specified purposes.
• Power of Attorney: Designates trusted individuals to make financial or legal decisions on your behalf.
• Schedule of Assets: A comprehensive list of assets held in the Trust that are subject to its provisions.
• Certification of Trust: A document to provide third parties with a summary of key provisions from the Trust without disclosing personal details.

How much does the Trust-Based Estate Plan cost?

Individual: $399

Couples:$499

Frequently Asked Questions 

What is a Revocable Living Trust?

A Revocable Living Trust is set up during your lifetime and can be changed or cancelled anytime you're alive. This trust helps avoid probate and offers some protection against creditors, although your assets in the trust are still somewhat accessible to them.

Do you need both a Trust and a Will?

No, you don’t need to purchase a Will separately from a Trust. The Trust-Based Estate Plan includes both a Will and a Trust, and these two documents work together but serve different purposes:

• Trust: This is the centerpiece of your plan, managing the distribution of all your assets.
• Will: This document allows you to designate guardians for your children and pets, transfers any remaining assets into the Trust upon your death, and outlines your preferences for final arrangements. The Will associated with your Trust is referred to as a "Pour Over Will."

How to switch from a Will-Based to a Trust-Based Estate Plan?

If you've begun with a Will-Based plan, transitioning to a Trust-Based plan is straightforward and doesn’t require starting from scratch. You’ll only need to answer a few additional questions to include a Trust in your plan. To learn how to add a Trust to your Will-Based plan, check out: How to Add a Trust to Your Will-Based Estate Plan.

How long does it take to create a Trust?

Setting up a Trust typically takes around 20 minutes. You can save your progress and return at any time to complete it.

How to Create a Trust 

Step 1: Purchase a Trust-Based Estate Plan

Begin by obtaining a Trust-Based Estate Plan or adding a Trust to your existing Will-Based Estate Plan.

Step 2: Finish the questionnaire

Complete a questionnaire to collect all the necessary information for your final documents.

Step 3: Finalize your documents

Print or have your final documents shipped. After that, sign, witness, and notarize them to make them official.

Step 4: Fund your trust

Once your documents are complete, transfer your assets into the Trust to ensure they are managed according to its terms.