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An Alaska living trust is the best way to ensure your most significant property is distributed quickly and easily after your passing. Why create a living trust if you already have a will? A living trust offers quite a few advantages, the biggest and most cost-saving of which is that it allows you, in most states, to avoid probate. Probate is a legal proceeding that the courts use to implement a will and can take anywhere from six months to three years to complete. Not only is time a factor when dealing with probate, frequently your heirs will need to hire a lawyer to get through the court proceedings.
When you set up a living trust, you are creating a separate legal entity. Ownership of your property passes from you, the individual, to the trust. Transferring personal ownership doesn't mean you lose control of your assets. By appointing yourself as the trust's main trustee, you control what happens to your property, including transferring it out of the trust. If you gain more property, you can add it to your trust.
Interested in forming an Alaska living trust? For more information on this money-saving estate planning device, check out LegalZoom's free, online legal library. If a living trust sounds right for your estate planning needs, form one in Alaska today by filling out our easy-to-follow online questionnaire. Let LegalZoom give you the confidence that comes with a future well planned.
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