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Living Trust Questions

What is the Difference Between an A/B Trust and a Joint Trust?

The difference between an A/B Revocable Living Trust and a Joint Revocable Living Trust is that the A/B trust permits the maximization of the “joint marital credit” for estate tax purposes. [ Read More… → ]

Tags: Living Trust Questions  ·  March 13th, 2009

How Should an Asset Transferred to a Trust Be Titled?

Typically, the title of an asset should be transferred from the individual owner’s name(s) to the names of the Trustee of the Trust. [ Read More… → ]

Tags: Living Trust Questions  ·  January 26th, 2009

If I Create a New Living Trust with Standard Legal, How Does It Affect My Existing Trust?

Assuming that you are creating a new Living Trust with the intent of replacing your existing one (i.e., you are not creating a second trust funded with assets not covered previously), the new Trust documents would supersede and take precedence over the existing documents. [ Read More… → ]

Tags: Living Trust Questions  ·  January 20th, 2009

Should We Use a Social Security Number or Employee Identification Number When Creating a Living Trust?

The answer depends exclusively upon how you wish to have your trust identified.

In most instances, you are permitted to obtain a federal tax ID number for your Trust, but said number may not be required, depending on how the trust will be taxed. [ Read More… → ]

Tags: Living Trust Questions  ·  January 6th, 2009

Is a Living Trust the Best Way to Protect Assets and Save on Taxes?

The consideration required in this question simply has too many variables to provide a “stock” answer. [ Read More… → ]

Tags: Living Trust Questions  ·  January 6th, 2009

Can I Use “Payable On Death” Forms Instead of Creating a Living Trust?

Payable on Death forms are a legitimate way to provide assets to a named beneficiary without going through Probate Court to do so. But there are a number of significant limitations to Payable On Death documents. And while creating a Living Trust is a bit more complicated to create and manage, a Trust offers several advantages when compared to simply listing or transferring assets to “Payable on Death” status. [ Read More… → ]

Tags: Living Trust Questions  ·  December 22nd, 2008

Can I Remove the Trustee of a Trust Set Up by my Child’s Grandparents?

Usually the Grantor of the Trust (the grandparents, in this case) names the trustee and alternate trustee. And typically, only the Grantor can make a change to the Trust, at his or her discretion, including who the acting trustee should be. [ Read More… → ]

Tags: Living Trust Questions  ·  December 22nd, 2008

Does a Trust’s Pour Over Will Go Through Probate Upon Death?

Any property held in a decedent’s individual name at the time of death will be subject to probate; that process is unavoidable.

Through the probate process, the deceased person’s property ultimately will be transferred to the Trust pursuant to the terms of the pour-over will, so long as the Pour Over Will has been properly executed. [ Read More… → ]

Tags: Living Trust Questions  ·  December 3rd, 2008

Can I Create a Living Trust Using Property in One State and a Notary from Another?

Certainly! You can use whatever address you wish to include as the contact information on your Trust documents. You can also include whatever property you wish to use to fund the Trust, from whatever states or countries in which those properties are located. [ Read More… → ]

Tags: Living Trust Questions  ·  December 1st, 2008

Can Standard Legal’s Living Trust Software Be Used to Revise an Existing Trust?

Amending an existing Trust using Standard Legal’s Living Trust software (or any other company’s legal forms or legal form software) may be a tricky task.

While you can always legally amend a Trust, the changes to the Trust must be done in a manner [ Read More… → ]

Tags: Living Trust Questions  ·  November 8th, 2008

Does Standard Legal’s Living Trust Include a “Grantor Trust”?

Standard Legal’s Living Trust legal forms software contains a Revocable Living Trust — also known as a Grantor Trust.

[Get complete details on Standard Legal’s Living Trust legal forms software here.]

Tags: Living Trust Questions  ·  October 21st, 2008

If I Move to Another State, Is My Trust Still Valid?

Simply moving to a different state does not make an existing Trust ineffective. As an example, if the Trust document [ Read More… → ]

Tags: Living Trust Questions  ·  October 16th, 2008