The Living Trust

About this book

". . . is unquestionably the laymans most nearly complete source on living trusts. . . . Recommended reading for anyone who wants to maximize his net estate left to heirs speed asset distribution after death avoid will challenges minimize estate costs and maintain privacy." -- Robert Bruss Esq. and Nationally Syndicated Real Estate Columnist Chicago Tribune ". . . presents in clear concise and readable language what every person needs to know. I heartily recommend it as required reading for every caring husband wife parent--all those with an estate to pass along to heirs." -- Byron Countryman Esq. Countryman and McDaniel Attorneys at Law Los Angeles Why The Living Trust Is So Important You may think your heirs have been well provided for but did you know that: Your loved ones may have to wait more than two years before receiving a penny from your estate--even though you have left a legally valid will? Costs of probating your will may eat up more than 10 percent of your estate-money your heirs will never receive? The specific instructions of your bequest may be contested or changed completely--even though clearly spelled out in your will? Once a will is probated it becomes a matter of public record--anyone can access the information just by going to the courthouse and asking for your tile? A will cannot help you in life? If you become incapacitated or your judgment comes into question it becomes a matter for the courts to decide and is again a very public process. A Living Trust is a simple inexpensive legal alternative that eliminates the costs and delays of probate and ensures that your loved ones will receive their inheritance promptly and exactly as you intended. It is also the only estate planning tool that allows you to plan for your own incapacity or for avoiding competency hearings. When The Living Trust was published in 1989 it quickly became the bible on how to avoid probate. This updated edition includes information on the new IRA Q-TIP Trust the Spousal and Family Support Trust and the Family Limited Partnership. In addition there is new material on the Charitable Remainder Trust (to preserve a large estate) the Gift Trust (to reduce the impact of inflation) protection for the handicapped and a checklist of more than 150 "must" provisions that separate a good Living Trust from a bad one. Also included is up-to-date information about trusts for unmarried couples placing assets in your trust what should never be placed in your trust and much much more. A nationally recognized authority on Living Trusts Henry W. Abts III is chairman and founder of The Estate Plan the nations oldest and largest Living Trust production corporation responsible for creating more than 25 000 Living Trusts. A graduate of the University of Southern California Abts holds a masters degree from the Stanford University Graduate School of Business.