Revocable living trusts are quickly becoming the most popular estate-planning tool. But what are they? How do they work? And why do you need one? If you’ve been asking yourself those questions, then this beginner’s guide is for you.
I’ve designed this guide to cover the basics without being overly complicated. Its broken into 4 chapters, with a bonus section at the end for FAQs that aren’t covered in the other chapters. On each page, there’s a navigation menu on the left in case you want to jump around.
Keep reading to discover whether a living trust is the right choice for your and your family.
Chapter 1: The Basics
A revocable living trust is a legal document that enables a person to avoid both probate proceedings upon his or her death.
This section shows you how a living trust works and why many people prefer them to a will. It also covers the advantages and disadvantages of using a living trust, as well as how to create one.
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Chapter 2: Living Trusts & Taxes
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Chapter 3: The Trustee
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Chapter 4: Beneficiaries
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Bonus Chapter: FAQs
This bonus chapter contains several frequently asked questions about revocable trusts.
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