Advantages and Disadvantages of Trusts Dayton OH

Before you set up a trust, find out if there are any advantages or disadvantages that may affect your decision.

Local Companies

Fifth Third Bank
937-227-6494
110 N. Main Street
Dayton, OH
Maywood Capital
(937) 538-1553
53 Park Ave
Dayton, OH
Value Financial, Carlos Scarpero
937-291-0999
3510 Cherry Point Way
Dayton, OH
Wright-Patt Credit Union Inc.
(937) 912-7000
2455 Executive Park Boulevard
Fairborn, OH
Liberty Savings Bank
(937) 224-4572
120 W 2nd St
Dayton, OH
Keybank
(937) 294-1959
4401 Far Hills Ave
Dayton, OH
Huntington National Bank
(937) 443-5993
10 N Ludlow St
Dayton, OH
Fifth Third Bank
(937) 227-3064
N Main St
Dayton, OH
Chase
(937) 443-6100
260 E Dayton-Yellow Spg
Dayton, OH
National City
(937) 294-1990
4025 Wilmington Pike
Dayton, OH

 

provided by: 



Before you set up a trust, find out if there are any advantages or disadvantages that may affect your decision.

  • Advantages of a trust
  • Are there any disadvantages of a trust?

Advantages of a trust

A living trust sounds a lot like a will. What are the advantages of a living trust over a simple will?

The biggest advantage of the living trust is that any property transferred to the trust during your lifetime will pass directly to your beneficiaries. The trust property will not have to go through a probate court. The advantages of avoiding probate are that:

(1) no probate fees are due on property passing outside of probate;
(2) the property will pass immediately to the beneficiaries; and
(3) the terms of the trust remain private.

Keep in mind that property disposed of by will passes through probate and is therefore subject to probate fees and the delays normally associated with probate. Furthermore, when a will is probated, it becomes a public document that can be obtained and read by anyone.

A trust is also a good way to make gifts to minor children or to provide for the care of elderly parents. It is also used by people getting on in years who are concerned with their own possible future incapacity.

Are there any disadvantages of a trust?

Aside from the need to draft a trust document and then transfer assets to the trust, there are no serious drawbacks to creating a living trust and placing the bulk of your property in the trust.


Copyright © GotTrouble.com, Inc. All rights reserved.

Click here to read rest of the article

Featured Local Company

Fifth Third Bank

937-227-6494
110 N. Main Street
Dayton, OH
http://www.53.com

Related Local Events
The Greenwich Debates: A Forum Of Candidates For Cincinnati City Council
Dates: 10/10/2009 - 10/10/2009
Location: The Greenwich
Cincinnati, OH
View Details

MamLuft&Co. Dance Open Auditions for the 2009-2010 Season
Dates: 8/22/2009 - 8/22/2009
Location: Contemporary Dance Theater (College Hill)
Cincinnati, OH
View Details