Living Trust Frequently Asked Questions

No.  Your will is your ticket to the probate court if it is used.  Wills are administered by the probate court.  Probate is expensive, time consuming and public in nature.  If you want to protect your family from probate you must die with under $20,000 in your name (each state has a different amount but it doesn’t take many assets to trigger a probate).  Living Trusts are the perfect solution for most people to avoid probate (you can protect even more if you use our Life Plan).

You’ll pay more in the end because we’ll have to fix what they did wrong.  You have to pay their fee plus our fee, so save yourself the extra money and just have us do it right the first time.  You get what you pay for.  Those companies are NOT law firms and cannot give you legal advice and counseling.  They only use pre-printed forms that they pretend work for everyone.  Your family deserves more than the Dollar Store to protect them.  This is not a a flat screen TV you’re buying–it’s an investment in your family’s future.

Yes.  Although you may have a properly funded trust, you may need to put an asset back in your name temporarily.  If you die while that asset is in your name only a will can direct the asset to the correct beneficiary.  Additionally, a will names an executor and it names permanent guardians for your minor children.

A Death Plan is designed to avoid probate–hence the name.  The plan comes with a basic living trust and a will.  If you want protection while you’re alive, you should consider the Life Plan Trust.

A Life Plan is a Death Plan (meaning it comes with a will and a living trust) PLUS all the documents you need to protect yourself while you’re alive and to protect your children and grandchildren from lawsuits, bankruptcy, the IRS and divorce.  It also includes our Maintenance Plan so that your documents don’t get outdated.

Yes.  There are three reasons.  First, state and federal laws change.  Second, your situation changes.  And third, because the laws are changing and your situation is changing our counseling changes.  See our Maintenance Program for our solution so that you are always protected.

No, the trust is a private document and it not required to be recorded.

No.

No.  The trust is a “grantor trust” for federal income tax purposes.  That means all the income and losses earned by the trust continue to be reported on your individual tax return (1040) as if you continued to own the assets in your name.

No.  You can choose a friend or a family member to serve as a successor trustee–even if they are a beneficiary of the trust.