Synopsis
How to Create Your Own Living Trust is a practical, step-by-step manual designed to demystify estate planning for the average person. It focuses primarily on the revocable living trust as a superior alternative to a simple will, emphasizing control, privacy, and cost savings.
Core Philosophy: Avoiding Probate
The book’s central argument is that probate—the court-supervised process of distributing a deceased person's estate—is a slow, public, and expensive headache. By placing assets into a living trust, you technically no longer "own" them individually; the trust does. Consequently, when you pass away, there is no need for court intervention because the trust continues to exist.
Key Benefits HighlightedSpeed: Assets can often be distributed to beneficiaries in weeks rather than the months or years required by probate.
Privacy: Unlike a will, which becomes a public record, a trust remains a private document.
Incapacity Planning: The trust outlines who manages your affairs if you become mentally or physically unable to do so, avoiding the need for a court-ordered guardianship.
The Step-by-Step Process
The guide breaks down the creation of a trust into manageable phases:
1. The InventoryIdentify what you own (real estate, bank accounts, stocks, heirlooms) and what you owe. This determines the scope of the trust.
2. Choosing the PlayersGrantor/Settlor: You (the person creating the trust).
Trustee: Initially you, so you maintain full control.
Successor Trustee: The person or institution that takes over when you die or become incapacitated.
Beneficiaries: The people or charities who will inherit the assets.
The book provides templates and legal language for the "Trust Document." It emphasizes that for the trust to be valid, it must be signed (usually in front of a notary) according to state-specific laws.
4. "Funding" the TrustThe Golden Rule: A trust is just an empty box until you put something in it. The most critical step is re-titling your assets. This means changing the name on your house deed or bank account from "John Doe" to "John Doe, Trustee of the John Doe Living Trust."
"synopsis" may belong to another edition of this title.
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How to Create Your Own Living Trust: The Essential Guide to Estate Planning
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How to Create Your Own Living Trust (Paperback)
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Paperback. Condition: new. Paperback. How to Create Your Own Living Trust is a practical, step-by-step manual designed to demystify estate planning for the average person. It focuses primarily on the revocable living trust as a superior alternative to a simple will, emphasizing control, privacy, and cost savings.Core Philosophy: Avoiding ProbateThe book's central argument is that probate-the court-supervised process of distributing a deceased person's estate-is a slow, public, and expensive headache. By placing assets into a living trust, you technically no longer "own" them individually; the trust does. Consequently, when you pass away, there is no need for court intervention because the trust continues to exist.Key Benefits HighlightedSpeed: Assets can often be distributed to beneficiaries in weeks rather than the months or years required by probate.Privacy: Unlike a will, which becomes a public record, a trust remains a private document.Incapacity Planning: The trust outlines who manages your affairs if you become mentally or physically unable to do so, avoiding the need for a court-ordered guardianship.The Step-by-Step ProcessThe guide breaks down the creation of a trust into manageable phases: 1. The InventoryIdentify what you own (real estate, bank accounts, stocks, heirlooms) and what you owe. This determines the scope of the trust.2. Choosing the PlayersGrantor/Settlor: You (the person creating the trust).Trustee: Initially you, so you maintain full control.Successor Trustee: The person or institution that takes over when you die or become incapacitated.Beneficiaries: The people or charities who will inherit the assets.3. Drafting and ExecutionThe book provides templates and legal language for the "Trust Document." It emphasizes that for the trust to be valid, it must be signed (usually in front of a notary) according to state-specific laws.4. "Funding" the TrustThe Golden Rule: A trust is just an empty box until you put something in it. The most critical step is re-titling your assets. This means changing the name on your house deed or bank account from "John Doe" to "John Doe, Trustee of the John Doe Living Trust." This item is printed on demand. Shipping may be from multiple locations in the US or from the UK, depending on stock availability. Seller Inventory # 9798196030819
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How to Create Your Own Living Trust
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How to Create Your Own Living Trust (Paperback)
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Paperback. Condition: new. Paperback. How to Create Your Own Living Trust is a practical, step-by-step manual designed to demystify estate planning for the average person. It focuses primarily on the revocable living trust as a superior alternative to a simple will, emphasizing control, privacy, and cost savings.Core Philosophy: Avoiding ProbateThe book's central argument is that probate-the court-supervised process of distributing a deceased person's estate-is a slow, public, and expensive headache. By placing assets into a living trust, you technically no longer "own" them individually; the trust does. Consequently, when you pass away, there is no need for court intervention because the trust continues to exist.Key Benefits HighlightedSpeed: Assets can often be distributed to beneficiaries in weeks rather than the months or years required by probate.Privacy: Unlike a will, which becomes a public record, a trust remains a private document.Incapacity Planning: The trust outlines who manages your affairs if you become mentally or physically unable to do so, avoiding the need for a court-ordered guardianship.The Step-by-Step ProcessThe guide breaks down the creation of a trust into manageable phases: 1. The InventoryIdentify what you own (real estate, bank accounts, stocks, heirlooms) and what you owe. This determines the scope of the trust.2. Choosing the PlayersGrantor/Settlor: You (the person creating the trust).Trustee: Initially you, so you maintain full control.Successor Trustee: The person or institution that takes over when you die or become incapacitated.Beneficiaries: The people or charities who will inherit the assets.3. Drafting and ExecutionThe book provides templates and legal language for the "Trust Document." It emphasizes that for the trust to be valid, it must be signed (usually in front of a notary) according to state-specific laws.4. "Funding" the TrustThe Golden Rule: A trust is just an empty box until you put something in it. The most critical step is re-titling your assets. This means changing the name on your house deed or bank account from "John Doe" to "John Doe, Trustee of the John Doe Living Trust." This item is printed on demand. Shipping may be from our UK warehouse or from our Australian or US warehouses, depending on stock availability. Seller Inventory # 9798196030819
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How to Create Your Own Living Trust : The Essential Guide to Estate Planning
Seller: AHA-BUCH GmbH, Einbeck, Germany
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Taschenbuch. Condition: Neu. Neuware - How to Create Your Own Living Trust is a practical, step-by-step manual designed to demystify estate planning for the average person. It focuses primarily on the revocable living trust as a superior alternative to a simple will, emphasizing control, privacy, and cost savings.Core Philosophy: Avoiding ProbateThe book's central argument is that probate-the court-supervised process of distributing a deceased person's estate-is a slow, public, and expensive headache. By placing assets into a living trust, you technically no longer 'own' them individually; the trust does. Consequently, when you pass away, there is no need for court intervention because the trust continues to exist.Key Benefits Highlighted- Speed: Assets can often be distributed to beneficiaries in weeks rather than the months or years required by probate.- Privacy: Unlike a will, which becomes a public record, a trust remains a private document.- Incapacity Planning: The trust outlines who manages your affairs if you become mentally or physically unable to do so, avoiding the need for a court-ordered guardianship.The Step-by-Step ProcessThe guide breaks down the creation of a trust into manageable phases: 1. The InventoryIdentify what you own (real estate, bank accounts, stocks, heirlooms) and what you owe. This determines the scope of the trust.2. Choosing the Players- Grantor/Settlor: You (the person creating the trust).- Trustee: Initially you, so you maintain full control.- Successor Trustee: The person or institution that takes over when you die or become incapacitated.- Beneficiaries: The people or charities who will inherit the assets.3. Drafting and ExecutionThe book provides templates and legal language for the 'Trust Document.' It emphasizes that for the trust to be valid, it must be signed (usually in front of a notary) according to state-specific laws.4. 'Funding' the TrustThe Golden Rule: A trust is just an empty box until you put something in it. The most critical step is re-titling your assets. This means changing the name on your house deed or bank account from 'John Doe' to 'John Doe, Trustee of the John Doe Living Trust.'. Seller Inventory # 9798196030819