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Trust-Based Estate Plans

Plans Considering the benefits of a Revocable Living Trust, few families can afford to be without one. The objective of estate planning is to ensure that you control your estate, and ultimately transfer it to whom you want at the least cost as quickly and simply as possible. The process of estate transfer can be agonizing. Yet, for those who plan, transfer can be relatively simple and inexpensive. A Living Trust with its various provisions and accompanying ancillary documents achieves this goal.

With a Trust

  1. No probate, maintains privacy, difficult to contest, fast distribution, controlled by your trustee, and administered at a cost of1-2% of your gross asset value
  2. No court-appointed conservator. You choose who is in charge of your assets
  3. Estate taxes are minimized, and in many instances completely eliminated
  4. Easy to amend, and no fees if part of a trust maintenance program
  5. Recognized from state to state, and in many countries
  6. Provides for continuity in business management
  7. Property in trust can be managed and distributed in any way you choose

With a Will

  1. Probate required, public record, easily contestable, delayed distribution (1-2years), losing control to the court, and paying probate fees of 5-7%
  2. Court-appointed conservators in the event of disability
  3. You are likely to pay maximum estate taxes, which can be half of your estate
  4. Witnesses and notary needed to make changes, including lawyer fees
  5. State-specific, thus any change in residence require redrafting the will
  6. Businesses are at risk during the delay of probate as the family lacks control
  7. When probate finally concludes, assets must be distributed outright at age 18

General Estate Planning Documents

  • Revocable Living Trust
  • Assignment of Assets
  • Certificate of Trust
  • Affidavit of Trust
  • Property Agreements
  • Children Guardianship
  • Healthcare Directive
  • Powers of Attorney
  • Pour-over Will
  • Quitclaim Deeds
  • Transfers/Bills of Sale
  • Memorial Instructions
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