
| Msg # 45 of 1396 on ZZCA4365, Monday 7-14-24, 8:49 |
| From: HUBERT TROTMAN |
| To: ALL |
| Subj: OT-The Living Trust |
From: post@seicomstars.com Using a little foresight, let's say, you've written a will to distribute your assets to your children after your death and now you're feeling pretty secure that you've safeguarded your children's inheritance. But this may be a false peace of mind. You may be leaving for your children months, even years, of agony in probate court, whopping attorney's fees, hassles with court officials and emotional anxiety of waiting for their inheritances. Surprisingly, there's a simple solution to this problem and a growing number of people are taking advantage of it. Revocable Living Trust Like many Americans, Jane learned the value of a revocable living trust firsthand, but paid a heavy price for it. When her father died four years ago, he left his business, family residence, a vacation home in Arizona and other assets to her. Fortunately, he had left a will and at first it seemed everything would go smoothly. But the problems started cropping up almost immediately. Although Jane, an accountant by profession, was named the executor and sole beneficiary of the estate, she had to hire an attorney to probate the will. She was fairly familiar with her father's financial affairs but, when it came to probate, there was very little she could do to expedite the process. It seemed like the court and attorneys were getting involved in every decision. Finally, the probate was over more than two years later but took a heavy financial and emotional toll on Jane. The once-thriving business was pretty much ruined. After this experience, it did not take much to persuade Jane and her husband to set up a revocable living trust. All of their assets were transferred to the trust, with both of them acting as trustees. Because the trust is revocable, they can change its terms, or even cancel it at any time. When one of them dies, the surviving spouse will continue to act as trustee and control and manage their assets. In the event of incapacity or incompetence, the living trust will allow them to avoid lengthy and costly guardianship and conservatorship court proceedings. As Jane put it, "I want everything to be as easy as possible for my kids if something happened to me. I wouldn't want them to go through what I did with my father's estate." To continue reading this report, : Click Here: http://seicomstars.com/trust/more_sections.htm Hubert Trotman post-NOSPAM@seicomstars.com --- MAF Anti-Spam ID: 20031010090600G9p2EoL1 --- SoupGate-Win32 v1.05 * Origin: you cannot sedate... all the things you hate (1:229/2) |
328,082 visits
(c) 1994, bbs@darkrealms.ca