By Jay Greene, Esq., CPA–
When planning for the future, many people think a will is the only option. However, a living trust offers benefits that a will cannot match. Whether you are part of the LGBTQ+ community, in a same‐sex relationship, or part of any diverse family unit, a living trust is a valuable tool to ensure your wishes are honored and that your chosen family is cared for.
Below are five key benefits of a living trust and reasons to consider creating one.
1. Avoiding Probate: A Smoother Process
A major benefit of a living trust is that it helps your estate bypass probate—the legal process that validates a will and distributes assets. Probate can be lengthy, expensive, and public, potentially leading to delays or disagreements among loved ones. A living trust allows your assets to pass directly to those you designate, ensuring a more seamless transition.
Why It Matters
• Avoiding probate can mean faster access to assets for your loved ones, including partners, friends, or family members chosen outside of traditional definitions.
• It can help prevent potential disputes and misunderstandings that sometimes arise in families with unique structures.
2. Privacy: Keeping Your Affairs Confidential
Unlike a will, which becomes a public document once submitted to probate court, a living trust remains private. This means that the details of your assets and how you choose to distribute them stay confidential.
Why It Matters
• Privacy can be especially important for LGBTQ+ individuals and families who may want to keep personal and financial matters out of the public eye
• Protecting your family’s information helps minimize the risk of unwanted challenges or scrutiny.
3. Control Over Distribution: Tailor Your Wishes
A living trust gives you the flexibility to specify how and when your beneficiaries receive their inheritance. You can arrange for distributions over time or set conditions that reflect your personal values and family dynamics.
Why It Matters
• This flexibility can ensure that your loved ones—whether connected by blood or chosen family—receive support in a manner that best suits their needs.
• It helps you manage how your legacy is shared, preventing the pitfalls of a large, one-time distribution.
4. Incapacity Planning: Protecting You in Life
A living trust isn’t just for after you’re gone—it also helps manage your affairs if you become unable to do so. By naming a successor trustee, you can ensure that someone you trust will handle your personal and financial matters if you become incapacitated. This avoids the need for a court-appointed process that can be intrusive and time-consuming.
Why It Matters
• A designated trustee can maintain continuity in managing your affairs, providing peace of mind for you and your loved ones.
• It allows you to outline clear instructions for managing your affairs during challenging times.
5. Flexibility: Adapting as Life Changes
Because a living trust is revocable, you can update it as your life evolves. Whether you experience changes in relationships, add new members to your chosen family, or acquire new assets, you have the freedom to adjust your trust accordingly.
Why It Matters
• Your family may evolve over time—through new relationships, partnerships, or even changes in legal recognition—and your living trust can grow with you.
• This ongoing flexibility helps ensure that your estate plan always reflects your current wishes and the makeup of your family.
Why You Need a Living Trust Today
A living trust is more than a planning tool; it’s a way to safeguard your legacy and ensure that every member of your family, whether by blood or by choice, is protected and provided for. The benefits of avoiding probate, maintaining privacy, controlling distributions, planning for incapacity, and adapting to life’s changes make it a smart choice for anyone looking to secure their future.
If you are ready to explore how a living trust can work for you and your loved ones, please reach out to us for further information. We’re here to help guide you through the process and ensure that your wishes are clearly outlined and respected.
Contact Us
Call us at 415-905-0215 or email info@greenelawfirm.com to learn more about protecting your future.
Statements In Compliance with California Rules of Professional Conduct: The materials in this article are for educational purposes only and are not legal advice. Consult an estate planning attorney for personalized guidance.
Jay Greene, Esq., CPA, is the founder of Greene Estate, Probate, & Elder Law Firm in San Francisco, helping LGBT individuals, couples, and families secure their future. For more information, visit:
https://greenelawfirm.com
Trust Essentials
Published on March 27, 2025
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