Why Would I Want a Revocable Living Trust?

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Post on 02-Dec-2014

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When you create and fund a revocable living trust, you continue to control the assets while you are living. Learn more about Indiana revocable living trust this presentation.

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  • 1. WHY WOULD I WANT A REVOCABLE LIVING TRUST?
  • 2. EXPLORE YOUR OPTIONS
  • 3. Many people assiime that they should use a last will to facilitate future asset transfers
  • 4. A will can be sufficient for some people, but it is not your only option FRANK 81 KRAFT . -' lR()ll. l()'. -l L()l{| ()R. -'ll(). ' AT '1 0 R N E Y 5 AT L A w
  • 5. FRANK 81 KRAFT A PROFESSIONAL coxronnxon ATTORNEYS AT LAW
  • 6. If you use a will to transfer your personal property, the will must be admitted to probate FRANK 81 KRAFT . - lR()Il. .l(). -l L()Rl0R. -'l'l() AT '1 0 R N E Y 5 AT L A w
  • 7. Probate is the legal process of estate administration FRANK 81 KRAFT . -' lR()Il. l(), '. -l L()R| 0R. -'ll(). ' AT T 0 R N E Y 5 AT L A w
  • 8. The probate court supervises the administration of the estate FRANK 81 KRAFT . -' lR()Il. l(), '. -l L()R| 0R. -'ll(). ' AT T 0 R N E Y 5 AT L A w
  • 9. F l 8 KW A/ :91; A igrl T> l/ ll l1yrl*FW1i; l FRANK 81 KRAFT A PROFESSIONAL cox PPPP TION ATTORNEYS AT LAW
  • 10. FRANK 81 KRAFT A PROFESSIONAL CORPORATION ATTORNEYS AT LAW
  • 11. The heirs to the estate do not receive their inheritances until the process has run its course FRANK 81 KRAFT . - lR()Il. .l(). -l L()Rl0R. -'l'l() AT T 0 R N E Y 5 AT L A w
  • 12. / V , . '*.4 r . -. _ 1"; .. ., '44 2- * There are also a number of expenses that can pile up durind probate
  • 13. FRANK 81 KRAFT A PROFESSIONAL cox PPPP TION ATTORNEYS AT LAW
  • 14. When you create and fund a revocable living trust, you continue to control the assets while you are living FRANK 81 KRAFT . - lR()Il. .l(). -l L()Rl0R. -'l'l() AT T 0 R N L Y 5 AT L A w
  • 15. As the grantor of the trust, you can act as the trustee and the beneficiary initially FRANK 81 KRAFT . - lR()Il. .l(). -l L()Rl0R. -'l'l() AT T 0 R N L Y 5 AT L A w
  • 16. You also name a successor trustee and successor beneciaries FRANK 81 KRAFT . -' lR()Il. l(), '. -l L()R| 0R. -'ll(). ' AT T 0 R N L Y 5 AT L A w
  • 17. FRANK 81 KRAFT A PROFESSIONAL cox PPPP TION ATTORNEYS AT LAW
  • 18. After you pass away, the successor trustee distributes assets to the successor beneciaries in accordance with your wishes FRANK 81 KRAFT . - ll{()ll. .l(), 'l. -l L()l{l0R: 'l'l()N AT T 0 RNEYS AT LAW
  • 19. These distributions are not subj ect to the costly and time-consuming process of probate FRANK 81 KRAFT . - lR()Il. .l(). -l L()Rl0R. -'l'l() AT T 0 R N L Y 5 AT L A w
  • 20. lfl ~l

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