Creating a Living Trust – Costs, process and Benefits
Creating a Living Trust – Costs, process and Benefits
var _sf_startpt=(new Date()).getTime()
var base_url = ‘http://www.articlesbase.com/’;var base_images_url = ‘http://images.articlesbase.com/’;var loading_icon = ‘http://images.articlesbase.com/point-loader.gif’;var loading_wide = ‘http://images.articlesbase.com/loadingAnimation.gif’;var loading_large = ‘http://images.articlesbase.com/ajax-loader-2.gif’;var loading_arrows = ‘http://images.articlesbase.com/loading_arrows.gif’;var loading_dots = ‘http://images.articlesbase.com/dots-horizontal.gif’;var captcha_url = ‘/trigger/captcha/’;
var str_qa_type_your_question = escape(“Ask our experts your Law related questions here…”); var int_question_title_max_length = 200;
GS_googleAddAdSenseService(“ca-pub-5157679868954075″);
GS_googleEnableAllServices();
GA_googleAddAttr(“Category”, “Law”);
GA_googleAddSlot(“ca-pub-5157679868954075″, “Article_Bottom”);
GA_googleAddSlot(“ca-pub-5157679868954075″, “Article_Left2″);
GA_googleFetchAds();
function fbLogin(backlink){
if (backlink == null || backlink == ”){
backlink = ”;
} else {
backlink = ‘&backlink=’+encodeURIComponent(backlink);
}
FB.init({appId: ‘d4f0261b49c9a6e9ef675169020100ae’, status: true, cookie: true, xfbml: true});
FB.login(function(response){
if (response.session){
if (response.perms){
// user is logged in and granted some permissions. perms is a comma separated list of granted permissions
window.location = ‘/auth/connect?status=success’+backlink;
} else {
window.location = ‘/auth/connect?status=permissions_error’+backlink; // user is logged in, but did not grant any permissions
}
} else {
window.location = ‘/auth/connect?status=not_logged’+backlink; // user is not logged in in facebook
}
}, {perms:’email,publish_stream,offline_access’});
}
function fbInit(){
FB.init({appId: ‘d4f0261b49c9a6e9ef675169020100ae’, status: true, cookie: true, xfbml: true});
}
var _gaq = _gaq || [];
_gaq.push(['_setAccount', 'UA-318473-1']);
_gaq.push(['_setCustomVar', 2, 'Category', '', 3],
['_setCustomVar', 3, 'SubCategory', 'Law', 3],
['_setCustomVar', 4, 'PenNameId', 751852, 3],
['_setCustomVar', 5, 'PublishDate', '2011-05', 3],
['_trackPageview']);
_gaq.push(['_trackPageLoadTime']);
(function() {
var ga = document.createElement(‘script’); ga.type = ‘text/javascript’; ga.async = true;
ga.src = (‘https:’ == document.location.protocol ? ‘https://ssl’ : ‘http://www’) + ‘.google-analytics.com/ga.js’;
var s = document.getElementsByTagName(‘script’)[0]; s.parentNode.insertBefore(ga, s);
})();
Free Online Articles Directory
Why Submit Articles?
Top Authors
Top Articles
FAQ
ABAnswers
function show_login_box() {
// move banner patch
if($(‘.static_pg_right_col’).length > 0 && $.browser.msie ) {
var ie_version = parseInt($.browser.version);
if(ie_version
Login
if($.cookie(“screen_name”)) {
$(‘#logged_in_true li span’).html($.cookie(“screen_name”).replace(/+/g,’ ‘));
$(‘#logged_in_true’).css(‘display’, ‘block’);
$(‘#top-authors-tab’).css(‘display’, ‘none’);
} else {
$(‘#logged_in_false’).css(‘display’, ‘block’);
}
Email
Password
Remember me?
Lost Password?
Home Page > Law > Creating a Living Trust – Costs, process and Benefits
Creating a Living Trust – Costs, process and Benefits
Posted: May 22, 2011 |Comments: 0
|
var addthis_config = { “data_track_clickback”:true, ui_language: “en” }
google_ad_channel = AB_cat_channel + AB_unit_channel;
google_language = “en”;
A living trust is an arrangement made during a person’s lifetime that organizes their property to be distributed after their death. A trustee (usually the person initially) takes over the living trust and all the property covered under the trust. After the person has died, a succeeding trustee takes over and becomes responsible for distributing the property to the beneficiaries outlined by the trust. The principal advantage of a living trust is that it allows the estate of the person to avoid probate. Rather than enduring an overwhelming court process, the beneficiaries can receive the person’s estate soon after the death. If you are interested in creating a living trust, you will want to know about the costs, the process, and the benefits.
Costs of a Living Trust
In itself, a living trust is not an extremely complicated legal document, especially for the common person. As a matter of fact, many people can create a living trust without having to hire a lawyer. As a result, the costs of creating a living trust are generally very inexpensive. If you have a large estate or other complicated issues, then contacting a lawyer to create your living trust is a wise idea. Most estate planning lawyers are willing to provide answers to questions or take over the creation of the trust altogether. Using a lawyer can get more expensive with the size and complexity of your estate, but generally still can be affordable. For most, creating your trust will cost somewhere between 50 and 2000 dollars.
The Process
Creating a living trust is a relatively simple process, assuming you know your estate and your plans to distribute it. To create the trust, you will need to establish the name of the trustor (yourself), the name of the first trustee (during your life) and the successive trustee(responsible for distributing property), and the beneficiaries of the trust. You will also need to know the components of your estate you plan to add into the trust, and will need proof of ownership. To make your living trust official, you will end up signing a “Declaration of Trust,” a legal document defining the terms of the trust.
Benefits of a Living Trust
As mentioned earlier, the principal benefit of a living trust is avoiding the court probate process. Living trusts are also very structured, can be created far in advance, and are valid across state lines.
-
About the Author:
This article is provided as information only and not intended as legal advice in any means or manner whatsoever, the Law Offices of Adrian Philip Thomas P.A. provides focused legal counsel and representation within the area of Living Trusts, Estate Administration and Probate in Florida, and has provided this for informational purposes only.
Article Source
