Salmon Creek Law Offices

Trusts Explained Attorney Vancouver WA

(360) 576-5322, Attorney Trent Kunz.  A revocable living trust is created as a contractual relationship between the Trustors, the individuals creating the Trust, and the Trustees, the individual(s) named by the Trustors to hold and manage the Trust property.  The Trustors and the Trustees can be and often are the same individuals.  Trustors also name beneficiaries, or individuals that receive property or otherwise benefit from the trust during the Trustors’ lives or after death.

Trusts are attractive because they allow Trustors to avoid the cost and time of probate which generally exceed $2,500.00 and 6 months, respectively, and allow Trustors to keep their financial affairs private.

Revocable living trusts do not provide any tax saving or create tax burdens nor do they protect Trust assets from the creditors of the Trustors.