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At the end of a long life of work and careful planning, not many among us would want to see our hard earned assets go into the coffers of the IRS, the bank accounts of attorneys, or all of the fees and expenses related to probate court. Even though you can't guarantee how your children or other benefactors will handle their inherited 2-bath duplex, you can come close to guaranteeing that your property will, in most states, stay out of court and stay in the family. This is best accomplished with the handy legal estate planning tool, the living trust.
While setting up a living trust takes more planning and can be more expensive than a traditional will, it is a very effective estate planning tool. Living trusts can help your heirs avoid certain estate taxes if prepared properly, and will allow your estate to remain private, since, unlike a will, it does not become part of the public record. Additionally, a living trust allows you to hand over management of your assets to someone else if you become unable to manage your assets yourself.
Each state handles living trusts differently. At LegalZoom, we accurately tailor your living trust to the needs and requirements of the state of Maine. Join the thousands of people who have successfully planned their future, form your living trust with LegalZoom, today!
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