Basic Estate Planning - Class 4 - Revocable Living Trusts Free class
- 1x (Normal)
Class 4 RLT Introduction7:10
Class 4 Living Trust Data Entry8:45
Class 4 Conclusion4:15
About This Class
George P. Brown PhD
For those clients who are concerned that their private information will become public when they die, as a result of the Probate Process, the Revocable Living Trust is the answer. The Living Trust affords privacy through the avoidance of Probate. It also saves a huge amount of time, and it saves a lot of expense in the way of potential legal fees. There are many other features that can be incorporated in a Living Trust, including provisions for special needs children, setting money aside that will not be taken for Medicaid benefit reimbursement, and others that you will learn about.
There is no better way to learn something than by doing it. So I will have you create a sample Revocable Living Trust on the best web-based estate planning service available. It will ask all the right questions, so you don't have to learn them. You can do the estate plan as a sample, or you can do it for yourself or for someone else.
The Revocable Living Trust works for any individual or couple that has accumulated sufficient assets that require probate in the event of death. It also is used by anyone who may have an accident or illness that would render them incapacitated. It provides for private successive management of their affairs, with pricise instructions on what to do. Therefore it avoids court proceedings to appoint a guardian or custodian. There are other documents that round out the entire estate plan, including Advanced Directives, Powers of Attorney, Trust Certifications and letters to retitle assets to the trust.
40 Years in Banking and Trust & Estates; Author and Teacher in Estate Planning; Mentor to successful professionals.