A series of programs titled "Navigating Aging, Illness and End of Life" at Coweta's Central Library in Newnan, Georgia, has given local residents information on the benefits of creating a living trust, the Newnan Times-Herald reports.
According to the news provider, financial planner Sam Madaris recently gave a presentation at the library regarding estate planning, during which he touched on the creation of living trusts, which is designed to "take care of you when you are alive."
"You can set up other trusts to take care of your kids, your spouse, your business," Madaris added.
In addition to the potential tax advantages of creating a living trust, it can help one's heirs to avoid having to go to court and dealing with probate, Madaris said.
Avoiding probate is key, as the process can potentially last for more than a year.
The estate planning series at the library is reportedly being held on the fourth Sunday of every month through April, according to the news source.