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A living trust is an agreement in which one person (the grantor) transfers property
to a second person (the trustee) for the benefit of a third person (the beneficiary).
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A living trust allows the grantor to name either himself or some other person as
trustee or co-trustee, reserves his right to revoke the trust at any time and return
the property to himself, and lets the grantor control distribution of his estate to
his beneficiary upon the grantor's death. A living trust is created while the
grantor is alive, rather than upon his death under terms of his will.
A living trust lets you control the distribution of your estate. You simply
transfer ownership of your property and your assets into the trust, then serve
as its trustee or select a person or an insti-tution to be its trustee. With a
living trust, the person you appoint to handle the trust after your death - the
successor trustee - simply transfers ownership to the beneficiaries you
named in the trust. Much of the time, this can be accomplished in a few weeks.
When all of the property has been transferred to the beneficiaries, the living
trust ceases to exist.
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The mission of Legal Helpmate is to provide you with an easy-to-use, quick,
and economical online legal document service for getting a proper Living
Trust from our site.
Its easy. In order to obtain a Living trust you will need to perform
several steps and our legal document service will thoroughly guide you through
this process. Within minutes, you will receive a ready-to-print legal
document.
Most importantly, you control this process from your own computer,
without paying for an attorney.
Your total cost is up to $24.99
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The big reason to have a revocable living trust is to avoid the detour of probate
court
in distributing your estate to its beneficiaries.
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Advantages of a
Living Trust
A living trust is an
arrangement by which you as the grantor place property in trust and name yourself
or some other person as Trustee or Co-Trustee, but reserve the right to revoke the
trust so that the property can be returned to you ...
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Probate, which may drag on for months, is the court-supervised process of paying
your debts and distributing your property to the people who inherit it.
By avoiding probate court, you eliminate its associated legal fees and expenses,
make sure that your estate goes to the beneficiares you have chosen, prevent the
emotional trauma of a complicated probate court procedure, eliminate time delays
in settling your estate, and assure uninterrupted income and access to principal
for family beneficiaries.
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Last Will versus Living Revocable Trust
The living trust is one of two
principal ways to pass property, upon the death of an individual, to the persons
whom the individual wants to have it. The other method is by will. The transfer by
last will requires the probate process, whereas a Trust ...
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A living trust also protects from federal estate taxes amounts of up to $1,500,000 for a single
person and $3,000,000 for a married couple, and it maintains privacy since the trust is confidential whereas a will is
public information and often published.
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Legal Helpmate Corp. is not a law firm and does not give legal advice. If difficult
legal issues are involved, you should consult an attorney.
Legal Helpmate Corp. is a online legal document service center that provides you with an
appropriate Living Trust form.
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