Major real estate advantages of living trusts

Managing, transferring assets becomes a cinch

Two subjects nobody enjoys thinking about are death and taxes. Because April 15 just passed, we don’t have to talk about income taxes until next year. But death is a topic that is difficult to avoid, especially as the huge “baby boomer” generation approaches its golden years.

Shockingly, less than 20 percent of the U.S. population has a written will designating who shall inherit their assets after death. If a person dies without a will, he or she is said to die “intestate.” The state law of the residence then determines who automatically receives the assets, usually a surviving spouse, children, or other close relatives.