Amazines Free Article Archive
www.amazines.com - Friday, January 17, 2020
Read about the most recent changes and happenings at Amazines.com
Log into your account or register as a new author. Start submitting your articles right now!
Search our database for articles.
Subscribe to receive articles emailed straight to your email account. You may choose multiple categories.
View our newest articles submitted by our authors.
View our most top rated articles rated by our visitors.
* Please note that this is NOT the ARTICLE manager
Add a new EZINE, or manage your EZINE submission.
Add fresh, free web content to your site such as newest articles, web tools, and quotes with a single piece of code!
Home What's New? Submit/Manage Articles Latest Posts Top Rated Article Search
Google
Subscriptions Manage Ezines
CATEGORIES
 Article Archive
 Advertising (133326)
 Advice (160997)
 Affiliate Programs (34736)
 Art and Culture (73698)
 Automotive (145681)
 Blogs (75064)
 Boating (9841)
 Books (17218)
 Buddhism (4125)
 Business (1328632)
 Business News (426316)
 Business Opportunities (366271)
 Camping (10962)
 Career (72737)
 Christianity (15846)
 Collecting (11637)
 Communication (115053)
 Computers (241955)
 Construction (38999)
 Consumer (49681)
 Cooking (17061)
 Copywriting (6567)
 Crafts (18205)
 Cuisine (7539)
 Current Affairs (20394)
 Dating (45781)
 EBooks (19687)
 E-Commerce (48204)
 Education (185261)
 Electronics (83503)
 Email (6395)
 Entertainment (159838)
 Environment (28938)
 Ezine (3039)
 Ezine Publishing (5446)
 Ezine Sites (1550)
 Family & Parenting (110900)
 Fashion & Cosmetics (196391)
 Female Entrepreneurs (11842)
 Feng Shui (130)
 Finance & Investment (310285)
 Fitness (106197)
 Food & Beverages (62872)
 Free Web Resources (7938)
 Gambling (30226)
 Gardening (25112)
 Government (10514)
 Health (629618)
 Hinduism (2205)
 Hobbies (44046)
 Home Business (91561)
 Home Improvement (251372)
 Home Repair (46144)
 Humor (4825)
 Import - Export (5453)
 Insurance (45130)
 Interior Design (29558)
 International Property (3485)
 Internet (190991)
 Internet Marketing (146346)
 Investment (22826)
 Islam (1167)
 Judaism (1356)
 Law (80516)
 Link Popularity (4592)
 Manufacturing (20842)
 Marketing (98786)
 MLM (14136)
 Motivation (18213)
 Music (27005)
 New to the Internet (9480)
 Non-Profit Organizations (4048)
 Online Shopping (129617)
 Organizing (7803)
 Party Ideas (11856)
 Pets (38079)
 Poetry (2234)
 Press Release (12675)
 Public Speaking (5618)
 Publishing (7523)
 Quotes (2407)
 Real Estate (126633)
 Recreation & Leisure (95290)
 Relationships (87564)
 Research (16159)
 Sales (80325)
 Science & Technology (110227)
 Search Engines (23458)
 Self Improvement (153103)
 Seniors (6233)
 Sexuality (35942)
 Small Business (49287)
 Software (82996)
 Spiritual (23468)
 Sports (116085)
 Tax (7658)
 Telecommuting (34068)
 Travel & Tourism (307484)
 UK Property Investment (3121)
 Video Games (13428)
 Web Traffic (11728)
 Website Design (56833)
 Website Promotion (36572)
 World News (1000+)
 Writing (35776)
Author Spotlight
ELLIOT CHANG

Financial analyst and author writing on economy and business. ...more
KHEHLLEYZH PHUN

In regards to earning money online, everybody wishes to, and everybody strives to, but not many end ...more
ADRIAN JOELE

I have been involved in nutrition and weight management for over 12 years and I like to share my kn...more
SHOVON JOARDER

Shovon Joarder has been working as Freelance Marketing Project Manager for over four years. He also ...more
JIM TURNER

Jim Turner is a USA based author of Legal issues related to estate planning, will & trust , busyness...more


Can A Revocable Living Trust Avoid Probate? by Jim Turner





Can A Revocable Living Trust Avoid Probate? by
Article Posted: 01/13/2020
Article Views: 18
Articles Written: 22
Word Count: 507
Article Votes: 0
AddThis Social Bookmark Button

Can A Revocable Living Trust Avoid Probate?


 
Law,Advice
The primary purpose of setting up a revocable living trust is to avoid probate. With the proper help from a trust attorney, setting up a living trust can be relatively simple. With a revocable living trust, you can be sure that your estate and your beneficiaries will not be bogged down in probate court after your death.

Also, the value and transfer of your assets and personal finances will remain private with a revocable living trust. This is different that a will. A will must go through probate court and probate is a public process. This means that your assets and the transfer of those assets becomes public.

Setting Up A Revocable Living Trust.

To set up a revocable living trust, you need to write a trust document. There are 3 key parties in a trust: the trust maker (also known as grantor or settl or), the trustee; and the beneficiaries.

As the name suggests, the trust maker is the person who makes and funds the trust. The beneficiaries are the people who receive the assets in the trust. The trustee manages the trust and its property.

In a typical revocable trust, the grantor usually acts as the trustee while they are still alive. When the grantor passes away, a successor trustee they have named takes over the management of the trust. The successor trustee is also responsible for distributing the trust assets to the beneficiaries after the grantor has died.

Funding The Trust.

Once the trust agreement is complete and signed, the individual who set up the trust will fund the trust. This involves transferring his/her assets into the ownership of the trust.

The grantor/trustee will then manage the assets in the trust for the duration of their lifetime. Once they die, the successor trustee will take over management and distribute the assets according to the grantor’s wishes.

Distribution Of Assets To The Trust Beneficiaries.

Once the assets have been funded into the name of the trust, the trust maker will not own property in his/her name. Instead, they will be owned by the trust and managed by the grantor/trustee. This is the key feature of a revocable living trust that prevents probate.

As a result of the way a living trust and trust laws are structured, probate is not required to transfer ownership to the beneficiaries when the grantor dies.

The successor trustee named in the trust agreement will legally step in as the administrator. The successor trustee will take control of retirement accounts and annuities, pay the grantor’s outstanding taxes and debts, and distribute the remaining assets to the beneficiaries named in the trust document.revocable vs irrevocable trust

About Author -Jim Turner is a USA based author of Legal issues related to estate planning, will & trust , busuness law and elder law .Jim Turner does his best writing on these topics that helps users to find the best solutions to their FAQ on estate planning , probate , living trust and more about legal family issues .

Related Articles - revocable, vs, irrevocable, trust,

Email this Article to a Friend!

Receive Articles like this one direct to your email box!
Subscribe for free today!

 Rate This Article  
Completely useless, should be removed from directory.
Minimal useful information.
Decent and informative.
Great article, very informative and helpful.
A 'Must Read'.

 

Do you Agree or Disagree? Have a Comment? POST IT!

 Reader Opinions 
Submit your comments and they will be posted here.
Make this comment or to the Author only:
Name:
Email:
*Your email will NOT be posted. This is for administrative purposes only.
Comments: *Your Comments WILL be posted to the AUTHOR ONLY if you select PRIVATE and to this PUBLIC PAGE if you select PUBLIC, so write accordingly.
 
Please enter the code in the image:



 Author Login 
LOGIN
Register for Author Account

 

Advertiser Login

 

ADVERTISE HERE NOW!
   Limited Time $60 Offer!
   90  Days-1.5 Million Views  

 

Great Paranormal Romance


STEPHEN BYE

Steve Bye is currently a fiction writer, who published his first novel, ‘Looking Forward Through The...more
GENE MYERS

Author of four books and two screenplays; frequent magazine contributor. I have four other books "in...more
STEVERT MCKENZIE

Stevert Mckenzie, Travel Enthusiast. ...more
SUSAN FRIESEN

Susan Friesen, founder of the award-winning web development and digital marketing firm eVision Media...more
LAURA JEEVES

At LeadGenerators, we specialise in content-led Online Marketing Strategies for our clients in the t...more
MICHAEL BRESCIANI

Rev Bresciani is the author of two Christian books. One book is an important and concisely written b...more
TIM FAY

I am not a writer nor am I trying to become a writer. I am an average person with average intelligen...more
KIRAN KAUR

Kiranpreet (Kiran) Kaur, D.D.S., who received her Doctor of Dental Surgery degree from the prestigio...more
STEVE BURGESS

Steve Burgess is a freelance technology writer, a practicing computer forensics specialist as the pr...more
JOANNA MORGAN

Joanna Morgan has a huge passion for making money online from home and enjoys traveling around the w...more

HomeLinksAbout UsContact UsTerms of UsePrivacy PolicyFAQResources
Copyright © 2020, All rights reserved.
Some pages may contain portions of text relating to certain topics obtained from wikipedia.org under the GNU FDL license