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Single Living Trust - $399/ Joint Living Trust—$499 |
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Assets left in a living trust don't have to go through probate court proceedings at your death
This is because when you create a living trust, you must transfer ownership of the designated property to yourself as "trustee" of the trust. During your lifetime, you still have control over all the property transferred to your living trust and can do what you want with it -- sell it, spend it or give it away. Then, after your death, the person you named to take over as trustee distributes the property to the family and friends you named.
Why avoid probate?
For most families, it's a waste of time and money. It typically takes from nine to 18 months to file a deceased person's will with the court, gather the assets, pay debts and taxes and eventually distribute what is left as the will directs. Fees for attorneys, appraisers, accountants and probate court can reduce by about 5% the amount left for survivors to inherit. Unless relatives are fighting over who gets what, or there are big claims against the estate, a court-supervised process is seldom necessary.
Single or Joint Living Trust?
A single person must have a single trust, while married couples will benefit more from an “AB Trust” or “Joint Trust”. A joint trust allows for property to pass from one spouse at the time of their death to the other, tax free.
Call us today, or click here to make an appointment or request more information.
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Living Trust |
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©2008, A Different Perspective, LLC. All rights reserved. LDA #338 , Exp: 1/31/2010 Service information ©2008 Nolo Press, all information used is published material. We are not attorneys, we offer Legal Document Preparation to the public, at your specific direction. We provide Paralegal Services only to attorneys and on a contract basis.
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