A Living Trust Primer

Apr 13, 2019
Wealth Management

Introduction to Living Trusts

A living trust is a legal document that allows you to transfer assets while you are alive and provides instructions for managing and distributing those assets upon your incapacitation or death. At Life Designers LLC, we specialize in consulting and coaching services related to estate planning, including the creation and management of living trusts.

Why Consider a Living Trust?

Creating a living trust can offer numerous benefits for individuals and families looking to protect their assets and ensure a smooth transfer of wealth. Unlike a will, a living trust allows for the avoidance of probate, which can be a time-consuming and costly process. Additionally, a living trust provides greater privacy, as the details of your estate remain confidential, unlike with a will that becomes a public document.

Asset Protection and Management

A living trust allows you to maintain control over your assets while placing them in a trust that can provide protection from potential creditors, lawsuits, and other financial risks. With our expert consulting and coaching services, we can help you understand the intricacies of asset protection within a living trust and develop a comprehensive plan to safeguard your wealth.

Smooth Transfer of Wealth

By creating a living trust, you can ensure that your assets are passed on to your desired beneficiaries according to your wishes. This can help avoid conflicts and disputes among family members and loved ones. Our team at Life Designers LLC can guide you through the process of choosing the right beneficiaries for your trust and establishing clear instructions for asset distribution.

Understanding the Components of a Living Trust


In a living trust, you are known as the grantor, the individual who creates and funds the trust. As the grantor, you have the authority to manage and control the assets within the trust during your lifetime.


The trustee is the person or entity responsible for managing the assets in the trust and ensuring they are distributed according to the terms outlined in the trust document. As the grantor, you can act as the initial trustee and appoint a successor trustee to take over the management of the trust upon your incapacitation or death.


The beneficiary is the individual or entity that receives the assets and benefits from the trust. You can designate multiple beneficiaries and specify the distribution of assets among them.

Revocable and Irrevocable Living Trusts

A revocable living trust allows the grantor to make changes or revoke the trust during their lifetime. This type of trust provides flexibility and control. On the other hand, an irrevocable living trust cannot be altered or revoked once it is established. This type of trust offers more protection for assets but limits the grantor's control over them.

The Process of Creating a Living Trust

At Life Designers LLC, we offer comprehensive consulting and coaching services to help you create a living trust tailored to your unique needs. The process typically involves several steps:

Estate Planning Evaluation

Our experienced team will conduct a thorough evaluation of your estate to understand your assets, goals, and objectives. This evaluation helps us design a living trust that aligns with your specific situation.

Trust Document Preparation

Once we gather all the necessary information, we will prepare the trust document that outlines the terms, beneficiaries, and instructions for asset management and distribution. Our expertise ensures that the document adheres to all legal requirements and best practices.

Funding the Trust

A critical step in the process is funding the trust, which involves transferring your assets into the trust. We will guide you through this process, ensuring that all necessary steps are taken to secure your assets within the trust.

Ongoing Trust Management

Even after the trust is established, ongoing management is necessary to ensure the trust remains effective and aligned with your evolving goals. Our consulting and coaching services support you in managing and updating your trust as needed.

Expertise and Support from Life Designers LLC

Life Designers LLC, a leading consulting and coaching firm specializing in estate planning, is dedicated to providing the highest level of expertise and support throughout the process of creating and managing a living trust. Our team of professionals understands the complexities of estate planning and can help you navigate through them with confidence.

Contact Us for a Consultation

If you're considering a living trust or need guidance in any aspect of estate planning, don't hesitate to reach out to Life Designers LLC. Our experienced consultants can provide the personalized assistance you need to secure your assets and protect your financial future.

  • Key Benefits
  • Comprehensive Estate Planning
  • Asset Protection
  • Smooth Wealth Transfer
  • Expert Consulting and Coaching
  • Revocable and Irrevocable Living Trusts
  • Thorough Evaluation and Planning
  • Trust Document Preparation
  • Funding and Ongoing Management

Ensure the protection and efficient transfer of your wealth with a living trust. Contact Life Designers LLC today for expert consulting and coaching in estate planning.

Patrick Ronayne
Helpful guide for trusts! ✨
Nov 12, 2023
Chris Evans
Great resource for understanding the benefits of living trusts!
Nov 8, 2023