The revocable living trust
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Post on 05-Dec-2014
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DESCRIPTIONThe revocable living trust is a legal agreement that designates somebody full responsibility for your property...
- 1. The revocable living trustThe revocable living trust is a legal agreement that designates somebody full responsibility for yourproperty - but can be changed at any time or any reason if you are alive and mentally competent. Itbecomes irrevocable after you die and is quickly becoming the best tool for estate planning.The power of a revocable living trustIf done correctly a revocable living trust can save a lot of headaches and will also save a lot of time at thecourt house. Immediately after your death, your assets will be transferred directly to your beneficiariesor will start to be passed out over a period of time (if that is how you set it up).Living trust or willTrusts are generally for larger estates and are more complicated and expensive than a will. They bothserve the same purpose: who gets your property, who gets your money and how and when they get it.Protecting your assets, and your dignity through this process is the core mission of each of the attorneysat Cohen & Oalican, LLP.
- 2. If you want to know if this is what you should do or not, you should contact elder law attorneys Cohen &Oalican, LLP. But before you do that, you can read this quick article so that you can understand a littlemore about them first.
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