Description

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Due to increased media attention, most of us are now aware of the substantial costs and delays associated with probate. Fortunately, these problems can be avoided by simply creating a living trust. A living trust is a trust used for the purpose of avoiding probate. It is easy to set up and simply involves completing and signing a trust agreement in which you name yourself as both grantor (creator of the trust) and trustee of the trust. Once the trust is set up, you then transfer some or all of your assets to it. As trustee, you are responsible for the management of the trust assets. When you die, the assets are distributed to the beneficiaries named in the trust agreement. However, as the assets are held in the trust's name rather than in your personal name, they will not form part of your probate estate and therefore do not need to go through probate. This allows for the assets to be distributed quickly after your death. This self-help kit provides you with step-by-step instructions, detailed information and all the legal forms necessary to help you create your own revocable living trust and avoid probate. - Avoid probate - Manage your property during incapacity - Make gifts to your loved ones - Create trusts for young beneficiaries.