Make Your Own Living Trust and Avoid Probate

Front Cover
Enodare Limited, 2010 - Estate planning - 336 pages
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:

  • easily create your own living trust & avoid probate;
  • transfer property to and from your living trust;
  • amend and revoke your living trust;
  • manage your living trust;
  • make gifts to beneficiaries;
  • make provisions for the management of property gifted to young beneficiaries; and
  • more.

    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.

  •  

    What people are saying - Write a review

    We haven't found any reviews in the usual places.

    Contents

    Chapter 3 An Introduction to Trusts
    43
    Chapter 4 Advantages and Disadvantages of Living Trusts
    51
    Chapter 5 Types of Living Trusts
    67
    Chapter 6 Successor Trustees
    79
    Chapter 7 Making Gifts Under Your Living Trust
    95
    Chapter 8 Estate Taxes
    113
    Chapter 9 Transferring Assets to Your Living Trust
    131
    Chapter 10 Executing and Making Changes to Your Living Trust
    143
    Chapter 12 Ancillary Estate Planning Documents
    159
    Appendix 1 Instructions for Completing Your Documents
    169
    Appendix 2 Revocable Living Trust Documents
    187
    Appendix 3 Miscellaneous clause for use in a Revocable Living Trust Agreement
    247
    Appendix 4 Deed of Assignment
    253
    Appendix 5 Certification of Trust
    265
    Appendix 6 Revocable Living Trust Ammendment Agreements
    283
    Appendix 7 Notice for Revocation of a Living Trust Agreement
    297

    Chapter 11 Administration of the Living Trust Following the Grantors Death
    149

    Other editions - View all

    Common terms and phrases

    About the author (2010)

    Enodare is an international self-help legal publisher that was founded in 2000 by lawyers from one of the most prestigious international law firms in the World. Its aim was simple - to provide access to quality legal information and products at an affordable price.
    Enodare's will writing software was first published in that year and, following its adaptation to cater for the legal systems of numerous countries worldwide, quickly drew in excess of 40,000 visitors per month to its website. From this humble start, Enodare has quickly grown to become a leading international estate planning and asset protection self-help publisher with legal titles in the United States, Canada, the United Kingdom, Australia and Ireland.
    Enodare's publications provide customers with the confidence and knowledge to help them deal with everyday estate planning issues such as the preparation of a last will and testament, a living trust, a power of attorney, administering an estate and much more.
    By providing customers with much needed information and forms, Enodare enables them to place themselves in a position where they can protect both themselves and their families through the use of easy to read legal documents and forward planning techniques.

    Bibliographic information