How to find accurate information on the advantages and disadvantages of a living

Posted by smith clea on February 21st, 2020

If you’re looking for information on the advantages and disadvantages of a living trust, you’re definitely on the right path. But, if your initial search parameters are too broad, chances are you are going to be bombarded by information.

As a result, when you’re looking for information on the advantages and disadvantages of a living trust, you have to have a system or some sort of method to make sense of what you are looking at. You main challenge isn’t going to be a lack of information, it’s going to be making sense of the volumes of information you come across. 

Some may be outdated while some may not be in the proper context. Much of the information may be missing very important pieces and a very little amount will actually be specific to your state.

So how do you figure out which is which? Pay close attention to the steps below.

Start with a broad Google search on living trusts in your state

The first thing that you need to do is get a general understanding how living trusts work in your state. One of the reasons information on the internet is so confusing is because it is overly broad and contradictory.

That is because laws about estate planning and living trusts change depending on what state you live in. If you live in Michigan, the laws in neighboring states like Indiana or Ohio may be completely different and not pertain to your situation at all.

As a result, you should focus your searches based on your state to make sure the information you are getting is accurate.

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Drill down your search to advantages and disadvantages

Now that you have a basic understanding of what a living trust is and how it works in your state, you should pay close attention to its advantages and disadvantages. Keep in mind, something that may be an drawback to someone else may not be a drawback to you.

This is the part of the research when you really need to think about your own estate planning goals and decide whether the advantages and disadvantages of living trusts the author is talking about changes your goals and decision making process.

Seek state bar resources to verify your findings

You have probably taken a lot of notes. By this point, it may be a good idea to take your notes and see if the bar association in your state has a website that has resource information for wills and trusts.

It will likely be more technical than things you read that were written by practitioners, but it may help you to double check your notes to make sure the information you were reading was accurate to your specific state.

Schedule an initial consultation with an estate planning attorney

One you have a good initial foundation about living trusts, you should schedule an initial consultation with a professional who practices trust law on a daily basis. These are known as estate planning attorneys, often referred to as trust attorneys.

They can answer all of your questions about wills and trusts and advise you on which document may be right for your unique set of circumstances.

This can give you peace of mind that you are making the right choice and it can also help you build rapport with an attorney you like in case you want them to draft one of these documents for you.

 Schedule an initial consultation with an estate planning attorney consult Rochester law center