Make Your Own Living Trust and Avoid Probate
Avoid probate using a Living Trust!
Due to high legal and probate fees, probate can cost up to 11% of the gross value of an estate. Not to mention the the fact that the deceased's assets are often frozen until probate is complete. As a result, beneficiaries may not have access to these assets. This can cause financial hardship to families as they wait months/years to have the assets released.
Fortunately, you can avoid probate by making a living trust!
It's easy to make a living trust. All you need to do is complete and sign a revocable living trust agreement naming youself as both grantor (creator of the trust) and trustee. Once the trust is created, you then transfer some or all of your assets to the trust. As trustee, you then take over management of the trust assets. When you die, the assets are distributed to the beneficiaries named in the trust agreement. However, as the assets are held in the trust's name rather than in your personal name, they will not form part of your probate estate. As such, they will not need to go through probate and can be distributed quickly after you die.
Enodare's lawyers has created a straightforward and easy to understand guide to show you how to:
Make Your Own Living Trust & Avoid Probate tells you all you need to know about revocable living trusts, their advantages and disadvantages, the tax implications, the alternatives to living trusts and much more. With detailed information, easy-to-follow instructions, helpful worksheets and all of the forms necessary, we show both individuals and couples how to avoid probate by making their own revocable living trust and employing other probate avoidance strategies.
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Chapter 3 An Introduction to Trusts
Chapter 4 Advantages and Disadvantages of Living Trusts
Chapter 5 Types of Living Trusts
Chapter 6 Successor Trustees
Chapter 7 Making Gifts Under Your Living Trust
Chapter 8 Estate Taxes
Chapter 9 Transferring Assets to Your Living Trust
Chapter 10 Executing and Making Changes to Your Living Trust
Chapter 12 Ancillary Estate Planning Documents
Appendix 1 Instructions for Completing Your Documents
Appendix 2 Revocable Living Trust Documents
Appendix 3 Miscellaneous clause for use in a Revocable Living Trust Agreement
Appendix 4 Deed of Assignment
Appendix 5 Certification of Trust
Appendix 6 Revocable Living Trust Ammendment Agreements
Appendix 7 Notice for Revocation of a Living Trust Agreement
Chapter 11 Administration of the Living Trust Following the Grantors Death