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A living trust is a legal arrangement in which you put assets into a trust and specify how you want them distributed after you pass away. ... you'd pay around $23,000 in executor/administrator ...
If you had an estate worth $2 million, you would pay out $33,000 in fees. A living trust can help avoid probate because the benefactor doesn't own the assets within the trust. When you pass away ...
Living trusts are private, changeable, and efficient. Are they right for you?
A popular option is a living trust, which many people consider one of the better routes to take. A living trust is a legal setup that allows an individual or couple to specify how their assets ...
After executing a trust agreement, the settlor should ensure that all assets are properly re-registered in the name of the living trust. If assets (especially higher value assets and real estate) remain outside of a trust, then a probate proceeding may be necessary to transfer the asset to the trust upon the death of the testator.
Revocable living trusts were often touted and marketed as valuable solely because of their ability to "avoid probate" and the costs and complications that surrounded it. Although probate avoidance is certainly a consideration in the use of a "living trust", there are many other estate planning techniques which also "avoid" probate.
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