The third important document for households with significant assets is a living revocable trust.
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My investments were in a revocable trust of which she as well as I was a trustee.
The real estate was owned by a revocable trust of which the doctor was the sole beneficiary.
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The way to avoid probate is to establish a revocable trust and transfer your property to it during your lifetime.
Lockett created a revocable trust, the Lois L. Lockett Trust (Lockett Trust).
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It's a complicated maneuver that involves the creation of a revocable trust and a gift of her assets to him right before he dies.
This post concerns potential estate tax saving from establishing a separate revocable trust for each spouse and dividing the marital estate between the two trusts.
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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In fact, retirees there are so probate-averse that "there are some condo communities where you're not allowed to go to the pool unless you have a revocable trust, " Baskies quips.
An alternative to POD accounts: a revocable living trust that keeps almost all your assets outside probate.
Create a personalized (not boilerplate) revocable living trust to manage your assets during your disability or illness.
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The good news is that with proper estate planning including a revocable living trust probate court can be avoided entirely.
You've heard the pitch: Put your assets in a revocable living trust now and save your heirs from the horrors of probate later.
"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.
He also set up a revocable living trust for Patti.
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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.
Revocable and irrevocable trust accounts are two more separate categories.
While this Opinion did not squarely address the case of an asset protection trust in the traditional context this Trust was formed by Sally, not Herbert the Debtor, and started off as being revocable the facts as they turned out are close enough that they may be guidance in the future for conflict-of-laws issues relating to asset protection trusts.
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