benefit your loved ones

during your lifetime 

Living Trusts are established during the owner's lifetime. A Living Trust is an arrangement in which a person transfers ownership of property (cash, stocks, bonds, real estate, etc.) to a bank or person as his or her trustee. A LPM advisor ensures that the bank trustee understands all contractual details and provides insight on what to expect. The bank trustee is obligated by law to manage the property for the exclusive benefit of the named beneficiaries according to the terms of an agreement or contract. A Living Trust is governed by a trust agreement, which may empower the trustee to distribute income and principal. Property held in the trust is distributed upon the occurrence of certain events, such as the death of the trustee or attainment of certain ages of beneficiaries. A Living Trust can continue beyond the life of the trust's owner for the benefit of family members. Living Trusts may be revocable or irrevocable.

• Revocable Living Trust: The grantor (owner) may add or withdraw assets freely, change beneficiaries, or completely cancel the trust at anytime.
• Irrevocable Living Trust: The grantor (owner) may not alter or cancel the trust. They give up the right of termination.

Benefits of a Living Trust:

• Offers investment management
• Provides funds to you and others
• Continues uninterrupted after your lifetime
• Avoids the glare of publicity
• Minimizes taxes
• Prevents dissipation of assets
• Brings relief from laborious record keeping
• Preserves family holdings intact

Contact LPM today for more information on Living Trusts