In Make Your Own Living Trust and Avoid Probate, we’ll tell you all you need to know about living trusts, their advantages and disadvantages, the tax implications, the alternatives to living trusts and much more. We’ll also show you how…
A living trust is created for the purpose of holding ownership of an individual’s assets during the person’s lifetime, and for distributing those assets after their death. It is also one of the most effective and common methods used to avoid probate. This book will show you how to:
In Make Your Own Living Trust and Avoid Probate, we’ll tell you all you need to know about living trusts, their advantages and disadvantages, the tax implications, the alternatives to living trusts and much more. We’ll also show you how to:-
create your own legally valid living trust – step-by-step
transfer property to and from your living trust
amend and revoke your living trust
manage your living trust
make gifts of trust property to named beneficiaries on your death
make provisions for the management of property gifted to beneficiaries who may not be able to manage their inheritance on their own (such as children); 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 the otherwise inevitable delays and costs of probate by preparing on their own revocable living trust and employing other simple probate avoidance strategies.
Enodare, the self-help business and legal publisher, was founded in 2000 by a group which included solicitors, entrepreneurs, business professionals, authors and academics.
Enodare’s Will Writer software was first published in that year quickly drew in excess of 40,000 visitors per month to our website.
From this humble start, Enodare has quickly grown to become a leading international self-help publisher with legal and business titles in the United States. Our aim was simple – to provide access to quality business and legal products and information at affordable prices to Americans. By providing customers with much needed information and forms, we enable 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.
Enodare has quickly grown to become a leading international self-help publisher with legal and business titles in the United States. All publications by Enodare are created in conjunction with industry experts to ensure our customers receive the expertise they deserve.
Chapter 10 – Executing and Making Changes to Your Living Trust
Chapter Overview
Executing Your Living Trust
Reviewing Your Living Trust
Amending Your Living Trust
Transferring or Removing Property From Your Living Trust
Revocation of Your Living Trust
Chapter 11 – Administration of the Living Trust Following the Grantor’s Death
Chapter Overview
What Must the Successor Trustee Do When the Grantor Dies?
Obtain Certified Copies of the Death Certificate
Obtain Tax Identification Number for the Trust
Notify Beneficiaries
Collection and Management of Trust Assets
Claim Life Insurance Proceeds
Gain Access to Bank Accounts and Other Financial Accounts
Identify Debts Owed by the Grantor
Maintain Proper Accountings of Trust Assets
Preparing and Filing Tax Returns
Federal Estate Tax
Income Taxes
Trust Income Tax Returns
State Taxes and Pick-up Taxes
Transferring Property to Beneficiaries
Administering a Child’s Trust
Conclusion
Chapter 12 – Ancillary Estate Planning Documents
Chapter Overview
What is a ‘Pour-Over Will?’
Avoiding Conflict Between Your Living Trust & Will
Planning for Incapacity – Durable Power of Attorney for Finance and Property
Planning for Incapacity – Advance Healthcare Directives
Living Wills
Healthcare Power of Attorney
Conclusion
Appendix 1 – Instructions for Completing Your Documents
Revocable Living Trust for an Individual
Revocable Living Trust for a Couple
AB Revocable Living Trust for a Couple
Deed of Assignment for Use with a Revocable Living Trust for an Individual
Deed of Assignment for Use with a Revocable Living Trust for a Couple
Certification of Trust for Use with a Revocable Living Trust for an Individual
Certification of Trust for Use with a Revocable Living Trust for a Couple
Revocable Living Trust Agreement (Amendment Agreement) for an Individual
Revocable Living Trust Agreement (Amendment Agreement) for a Couple
Notice of Revocation
Appendix 2 – Revocable Living Trust Documents
Appendix 3 – Miscellaneous clause for use in a Revocable Living Trust Agreement
Appendix 4 – Deed of Assignment
Appendix 5 – Certification of Trust
Appendix 6- Revocable Living Trust Ammendment Agreements
Appendix 7 – Notice for Revocation of a Living Trust Agreement
