A number of companies are now offering online facilities that allow you to make online living trusts. These online living trusts are in many cases much more sophisticated and better than using the standard templates found in do-it-yourself legal kits. This is because, the online trust building software not only asks you questions relevant to your specific circumstances but also takes the hassle out of tailoring the document by preparing one that is custom made to suit you. So, for example, there is no need to do things like “delete the clauses that do not apply” or add extra gift clauses when the template contains insufficient clauses. Online living trust builders do all the work for you.
Online trusts take about 10 minutes on average to complete. This is of course assuming that you are already aware of what you need to know to complete the trust and have a schedule of assets to hand that you want to transfer to the living trust. In most cases, the living trust builder will ask you a series of questions and present you with a series of options to select in an interview styled process. When you have answered all the relevant questions and selected all of the relevant options the online living trust builder will create your living trust.
Once the online living trust is created, all you need to do is print it off and execute it. Of course, you will normally pay a small fee for the document. Also, in the same way as every other living trust you will need to ensure that the living trust is properly funded which means ensuring that the assets are properly transferred to the trust.
In choosing an online living trust provider, you should ensure that you select trust builder software that has been prepared by lawyers (many are not!) and that is being sold by a reputable company with estate planning experience. You should also look for online living trust software that includes advanced features like the inclusion of alternate beneficiaries (few pieces of online living trust making software do), UTMA custodianships and child trusts.
You can buy cheap online living trusts on many internet websites. However, before you make that purchase, you should check to see if these cheap online living trusts contain the options set out above. Otherwise, the cheap online living trust may end up costing your family a lot more that you bargained for!!
How Can EstateBee Help You?
EstateBee’s Online Living Trust Software allows you to make revocable living trusts online from the comfort and privacy of your own home. Without a doubt, it is one of the most sophisticated pieces of estate planning software on the market.
Our Online Living Trust Software prepares bespoke revocable living trust agreements for people who are single, married or in a registered domestic partnership, and caters for people who have children and those who don’t. It is 100% bespoke to your circumstances.
The software is also state specific. So, for example, when it comes to making property management provisions for minors, young adults who may have trouble managing their inheritance or even people with special needs who stand to inherit under your living trust, not only will you be given the option of creating sub-trusts for each of those beneficiaries, you will also be given the option of creating UTMA custodianships – if your state allows. In the later case, the software will let you know the options that apply in your state – the age at which the UTMA custodianship ends, the number of trustees you can appoint, and much more.
Everything is state specific and bespoke to your personal situation.
EstateBee’s Online Living Trust Software is, without doubt, a market leader – and has been so for over 20 years.