|
For information and articles regarding living trusts, asset protection and estate planning check out Plan-My-Estate.
Searching for a living trust attorney? Try these sites.
Living Trust Attorney.net
National Lawyers Directory
US Attorneys Directory.us
or
The Living Trust Attorney Directory
from
Resources For Attorneys
Searching for a realtor to assist you in buying or selling real property for your trust, try:
National Realtors Directory
a directory of real estate brokers, information and articles.
For nationwide directories of courts, bar associations, laws and statutes, law libraries and other legal resources try:
Resources For Attorneys
a nationwide directory of legal resources for attorneys, lawyers and the internet public.
|
 |
|
Revocable Living Trust |
With a Revocable Living Trust, you transfer the title of any of your assets (such as a house) from yourself as an individual, to yourself as Trustee of the Trust.
Then you, as the Trustee of the Trust, manage the assets of the Trust for the benefit of the beneficiary, which is you. In this manner, you keep complete control over the assets.
Once you pass on, a Successor Trustee takes over the management of the asssets for the benefit of the beneficiaries that you named in your Trust. Your assets do not have to pass through
Probate because the assets are no longer titled in your name as an individual, but are now titled in the name of the trust.
Upon your death, the Successor Trustee simply transfers your assets directly to your beneficiaries without the need for court or attorney's fees or costs.
With a Revocable Living Trust you keep complete control over your assets and ensure that your assets
are passed to your designated beneficiaries without delay or unnecessary costs.
If you are considering having a Living Trust created for you or your family, we recommend that you first read this article about Estate Planning Fraud before you select who will assist you with your needs.
|
Trust Basics |
Property and assets are owned by many types of legal entities -- individuals, partnerships, corporations and trusts. A trust is just a separate paper entity that is established by a property owner to leave assets to his or her beneficiaries. A trust is simply a "contract" between the property owner and the trustee.
There are many types of trusts in use. They are used for various reasons to acheive different goals. The role of your estate planning attorney is to determine what kind of trust is needed to achieve your desired goals. Some common trusts include:
Of all these Trusts, a Revocable Living Trust is one of the most popular and important Estate Planning documents in use today.
In addition to the various types of trusts, there are also various reasons why people have trusts. Some include: avoidance of probate, provide for minor children, reduce estate taxes, protect assets from creditors.
|
| |
|