Living trusts are hot, but you may not need one - From CNBC-Living trust. Loving trust. Revocable
trust. Whatever you call it, its received far too much hype for its value. Is this
trust the solution for every-one's estate problems,
as some might suggest? Not really.
Pros
1.
Allows you to transfer assets.
2. Allows you to name successor trustees.
3. Avoids probate court for assets.
4. Can
save on estate costs.
5. Effectively deals with assets in other states.
Cons
1. Requires you to "retitle" assets.
2.
Can be costly for modest-sized estates.
3. Sometimes sold to people who don't need it.
4. Does not replace a will.
From CNBC
Nolo.law Center
A trust is an arrangement under which one person, called a
trustee, holds legal title to property for another person, called a beneficiary. You
can be the trustee of your own living trust, keeping full control over all property held in trust
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Do You Need a Lawyer to
Make Your Will? - Nolo Even if you've decided to make your own will, you may feel
a little uneasy about the process. After all, a will is an important legal document
-- shouldn't you seek a lawyer's help? That depends on your situation. If you're like
most people, you won't need a lawyer; preparing your document will be a fairly easy task. Most
people can make a will without a lawyer's help. Here's why.
Auntie Nolo Questions & Answers
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