An alternative to POD accounts: a revocable living trust that keeps almost all your assets outside probate.
Everything else, including cash and securities, would go to a living trust set up in 1997.
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Create a personalized (not boilerplate) revocable living trust to manage your assets during your disability or illness.
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Both a will and a living trust can be used to transfer assets, but each has unique uses.
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And the terms of a living trust can usually be kept secret from prying neighbors as well as disappointed relatives.
If you own out-of-state real estate, a living trust will help your heirs avoid going through probate in multiple states.
You've heard the pitch: Put your assets in a revocable living trust now and save your heirs from the horrors of probate later.
Someone with a domestic partner might use a living trust, because it is harder for family members to challenge a trust than a will.
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The takeaway: If you want privacy, transfer the bulk of your assets through a living trust (also called a revocable trust), rather than a will.
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Unlike a will, a living trust is not a public document.
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But setting up a living trust isn't free or painless, either.
If you die intestate--meaning without a proper will or living trust--your assets will be divvied up according to the law in the state where you live.
If your goal is to avoid probate totally, keep this in mind: using a living trust for this purpose only works for assets put into the trust.
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Unless the property is in a living trust, an Illinois resident who has a home in Florida, for instance, would need to probate the property separately there.
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"Usually, a revocable living trust for someone under 60 is more complexity than is necessary, " says Joan Bozek, a director in Merrill Lynch's private wealth management group.
Still, there are times when you might want to use a living trust to limit how much of your estate goes through probate or to avoid it altogether.
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He also set up a revocable living trust for Patti.
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So why would a living trust need a Protector?
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So, simple things that even aren't necessarily to do with the current tax administration, the fear that taxes are going to go up, but having a revocable living trust, for example, to hold your assets to protect you from probate.
However, if the decedent had a living trust and all assets had been transferred to the trust prior to death, then probate may be avoided and funds in the living trust may be distributed to the beneficiaries without waiting for court approval.
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The third important document for households with significant assets is a living revocable trust.
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If this is how you feel, then you should set up a living irrevocable trust fund.
Financial elder abuse also occurs when the victim is manipulated into signing legal documents, such as a durable power of attorney, last will and testament, trust or living will.
This was in part because she won people's trust by living among them -- but also because her project aimed to celebrate the positive aspects of their lifestyle rather than reinforce the negative stereotypes of squatters as wasters, tax dodgers or down-and-outs.
But that could change as new networks of knowledge, innovation and capital meet the older values of work, trust and modestly priced living standards.
But that could change with new networks of knowledge, innovation and capital meeting the older values of work ethic, trust and modestly priced living standards.
The researchers recorded GHC behaviour in four social groups of semi-wild chimpanzees living in the Chimfunshi Wildlife Orphanage Trust (CWOT) in the north west of Zambia.
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