Many parents put a child’s name on their property in an effort to avoid probate. They figure that the property will go directly to the child when they die. Legally it works, but it can often cause problems. I always tell my clients to avoid this, …
I do not have my Revocable Trust set up yet because I have yet to purchase your Accumulation and Preservation of Wealth program. So my question is on the IRS form 2553, Part 1, Section J, can I put (My Name), Living Revocable Trust if I haven’t set my trust up yet but intend […]
I do not have my Revocable Trust set up yet because I have yet to purchase your Accumulation and Preservation of Wealth program. So my question is on the IRS form 2553, Part 1, Section J: Can I put (My Name), Living Revocable Trust if I haven’t
Question: Do I have to file the Trust with the Secretary of State for it to be immediately protected or effective? Answer: A living revocable trust is not recorded to make it “valid,” “legal,” or “effective” in any way. Once the trust is properly signed, it will be effective. Of course, its effectiveness in avoiding […]
