What Are The Benefits Of A Living Trust?

What Is a Living Trust?

A living trust is similar to a will. They include instructions for how assets are to be distributed during their lifetime or after their death.

Living trusts are typically more complicated than wills. In a living trust, you can dictate when a person will come into possession of certain assets or property. The more complicated nature of a living trust can make it more expensive to initially set up.


Living trusts can have different tax implications than other estate planning options. The assets in a living trust are taxed to the creator of the trust at a higher rate than other assets are taxed.

Avoid Probate

Assets in a living trust can bypass probate, avoiding the process completely. The assets can be distributed directly to your selected beneficiaries without court intervention.

Living trusts can mean a faster distribution of assets. The probate process can be slow, delaying your beneficiaries' access to the assets.


Including assets in a living trust and avoiding probate allows them to remain private. Everything is listed in the public record when property and assets go through probate. Avoiding probate allows your assets to avoid being listed in public records and stay private.

Overseen By a Trustee

Living trusts are managed and executed by a designated trustee, who is chosen by the trustor, the trust's creator. Having a trustee in place creates a lot of flexibility in distributing assets.

The trustee can exercise discretion when distributing money to the trustor’s children based on your instructions. This discretion is usually related to age or life events, like getting married or having children.


With a trustee, you can specify not only the amount but the timing of when your beneficiaries will inherit assets left to them in your trust.

Trustee Can Assist In the Event of Incapacitation

When you have a living will, your trustee can step in to manage your affairs at any time. If you’re ill or incapacitated, your trustee will be the one to step into decision-making without court interference.


Having a trustee can help you avoid the potential of court-appointed conservatorship. You will get to decide who manages your estate while you’re unable to, not the court.

Peace of Mind and Control

A living trust allows you to have a clear plan for how to manage your assets. You can decide how and when you want them to be distributed to your beneficiaries.

The level of control a living trust gives can help you have peace of mind about the future. You don’t have to worry about assets being distributed incorrectly or at a time you wouldn’t have chosen.

Contact an Estate Planning Attorney Today

Living wills are a great estate planning tool. They can help you have control over your assets as you face the future.

There is a wide range of options to meet estate planning needs. Living wills are one example of estate planning options that can help you plan for the future. Depending on the size of your estate and your specific needs, there may be other options available for you.

An estate planning attorney can help you discuss your plans for the future and help you create the best estate plan for your needs. Jason Campbell is a Mississippi estate planning attorney dedicated to helping families feel prepared for their futures.

Contact Campbell Law today to learn more about living wills and how we may be able to help you prepare for your future.