home
***
CD-ROM
|
disk
|
FTP
|
other
***
search
/
World of Shareware - Software Farm 2
/
wosw_2.zip
/
wosw_2
/
GENERAL
/
RIP.ZIP
/
README.DOC
< prev
Wrap
Text File
|
1992-04-07
|
3KB
|
67 lines
Rest In Peace--Living Trusts Made Easy
Where other products claim ease of use,
Lake Software delivers truly Intuitive Software.
What is a Living Trust?
A Living Trust is a legal document similar to a will. It does
some of what most people think a will does, but it also does a
great deal more. There is no probate with a Living Trust and
therefore the expensive court proceedings and delays are
eliminated. This legal document allows you to transfer the
ownership of your titled and personal property from your
individual name to something called a "trust", that you control.
Titled property would be items such as your home, car, checking
and savings accounts, etc. Personal property would include items
such as clothing, furniture, furnishings, appliances, jewelry,
and so on.
How does a Living Trust avoid probate?
There are only two ways to avoid probate: own nothing or have a
Living Trust. With a Living Trust you own nothing in your name,
yet you still have complete control over everything that you have
in your trust's name. Only the names that appear on the titles of
your property change. Therefore, since you no longer own anything
(personally), there is nothing to probate when you die or become
disabled.
What are the advantages to you and your family?
The Living Trust document will outline the instructions that you
want for managing your assets and for the distribution of them
after your death or if you should become disabled. With a Living
Trust, even if you cannot handle your own affairs, you have at
least made sure that they will be handled the way you would want.
You can still sell property contained within the trust, change
the beneficiaries, or even cancel the entire trust at any time.
Having a Living Trust does not alter the way you handle your
financial affairs. You still have complete control.
A Living Trust will allow you to maintain your privacy. Financial
matters are a private family affair. No announcements have to be
placed in the newspaper upon your death, no one is invited to
contest your estate, and there are no court records. No
information about your assets, beneficiaries, or trustees ever
has to be made public. Having a Living Trust is so private that
disgruntled heirs or opportunity seekers who might try to contest
your will may not even know that you have died.
How can a Living Trust help you?
The more you know about Living Trusts and the more you are
prepared, the more you can save on attorney fees. Most Living
Trusts will cost between $800 to $2000. Some could be
considerably more due to special provisions, the area you live,
and the attorney's fees.
Living Trusts are not as popular as Wills for a number of
reasons. Wills have been commonplace for centuries and have
traditionally served to distribute limited and specific assets.
With Wills being the accepted "norm" for such a long time,
standard forms are available in almost all jurisdictions.
Living Trusts allow the ultimate in flexibility for the control
and management of your assets. Probate taxes, associated legal
fees and the burden of critical and financially important
decisions can all be avoided through the use of a Living Trust.