Living Trusts are an estate planning device particularly aimed at avoiding probate in the case of death and conservatorship in the case of disability. You place all of your assets in a Trust while you are alive, naming yourself (and spouse) as the trustee and naming a successor trustee to take over when the second one of you dies or becomes disabled.
Placing assets in the trust is as simple as signing a new signature card at the bank. You keep the same account, the same account number, the same tax identification number (Social Security Number). They just change the name of the account to the trust. We will prepare a deed transferring your Virginia real estate.
Living trusts are for anyone who would like to avoid the cost and red tape of the probate and conservatorship process. They are imperative for the elderly, the terminally ill or those who own property in several states.
We'll be glad to discuss you specific situation.