Estate planners and financial planners keep up a constant call to use a living trust and avoid probate. Yes, the living trust works well to avoid probate, IF it is used properly. In order to avoid probate, the trust has to own the real property that would
When everything works right after an IRA’s owner dies, a named beneficiary takes over their IRA. Unfortunately, sometimes a living beneficiary is not available. What often happens is a husband and wife set up an IRA and they name each other as beneficiaries. When the first spouse
It is a simple matter to open or transfer a bank account into your living revocable trust. In this video Lee Phillips explains the many benefits of using living revocable trusts… Assuming you are using your living revocable trust to avoid probate, the assets (which require your
Cars and other vehicles (motorhomes, boats, motorcycles, etc.) each have a title and require your signature to transfer the vehicle to another person. That means they are subject to probate after your death UNLESS you have the vehicle “owned” or titled in the name of your living
