| Home | Free Articles for Your Site | Submit an Article | Advertise | Link to Us | Search | Contact Us |
This site is an archive of old articles

    SEARCH ARTICLES
    Custom Search


vertical line

Article Surfing Archive



The Known Advantages Of A Living Trust - Articles Surfing

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. Generally, the trust agreement provides that upon your death the property will go to the named beneficiaries.

Why set up a living trust? The Advantages of the living trust include the following:

1. Provides for Property Management or disbursement;

2. Avoid all legal fees and Expenses Associatedwith probate;

3. Automatically avoids All Probate of the property;

4. Assures uninterrupted income and Access To Principal for family beneficiaries;

5. Eliminates time delays in settling the estate - the successor trustee Immediately Distribute the funds as indicated in the can revocable living trust agreement;

6. Maintains privacy - nothing is printed in the newspaper as is the case When a Person Dieseither in testate (no will) or with only a last will;

7. Avoid the Emotional Trauma, aggravation and frustration of a complicated probate court procedure;

8. Protects up to $1,500,000 from federal estate taxes for a single person and up to $3,000,000 for a Married Couple. This rule works for US citizens only!

And, what About The Children? How mature and ready will they be to inherit my estate? It's true that age 18 is the legal minimum age for inheriting an estate, but is your 18-year old wise enough to manage substantial wealth? Maybe he should receive assets in stages (say, one-third at age 25, another third at age 30, and the remainder at age 35)? Shall he receive a big allowance, or should he be encouraged to get a job?

A great advantage of the Living Trust is that you can decide and control how to distribute your estate to your children.

Submitted by:

Jeffrey Broobin

Jeffrey Broobin is a free-lance writer on family and finance issues; his main goal is to help people during their complicated period of life. Website: http://www.legalhelpmate.com Email: jeffreyb@legalhelper.ws



        RELATED SITES






https://articlesurfing.org/legal2/the_known_advantages_of_a_living_trust.html

Copyright © 1995 - Photius Coutsoukis (All Rights Reserved).










ARTICLE CATEGORIES

Aging
Arts and Crafts
Auto and Trucks
Automotive
Business
Business and Finance
Cancer Survival
Career
Classifieds
Computers and Internet
Computers and Technology
Cooking
Culture
Education
Education #2
Entertainment
Etiquette
Family
Finances
Food and Drink
Food and Drink B
Gadgets and Gizmos
Gardening
Health
Hobbies
Home Improvement
Home Management
Humor
Internet
Jobs
Kids and Teens
Learning Languages
Leadership
Legal
Legal B
Marketing
Marketing B
Medical Business
Medicines and Remedies
Music and Movies
Online Business
Opinions
Parenting
Parenting B
Pets
Pets and Animals
Poetry
Politics
Politics and Government
Real Estate
Recreation
Recreation and Sports
Science
Self Help
Self Improvement
Short Stories
Site Promotion
Society
Sports
Travel and Leisure
Travel Part B
Web Development
Wellness, Fitness and Diet
World Affairs
Writing
Writing B