The big advantage to making a living trust is that property left through the trust doesn't have to go through probate court. Probate is the court-supervised process of paying your debts and distributing your property to the people who inherit it. Probate usually takes a long time to clear the issue due to court and administrative proceedings and also can costs up to 5% - 10% of the amount of assets in fees and charges.

Living trust document also provides you privacy. This document cannot be made public unlike a will. To establish a living trust, an individual transfers title of his assets from himself as grantor, to a trustee of the trust (often the trustee and grantor are the same person), to administer for the benefit of himself and at

A Power of Attorney is a legal instrument that is used to delegate legal authority to another person in the event where the principal is not present to perform a specific task or is not in the capacity of performing. The person who signs a Power of Attorney is called the Principal. The Power of Attorney gives legal authority to another person (called an Agent or Attorney-in-Fact) to make property, financial and other legal decisions for the Principal. The word attorney here means anyone authorized to act on another's behalf.