About Living Trust Legal Forms Software
 What is the Living Trust Legal Forms software?
Did you know you clan
your estate yourself with this comprehensive Living Trust software!
For years, financial planners and attorneys have used Living Trusts as
a way to ensure that property is protected and passed on from one
generation to the next. A Revocable Living Trust provides a safe and
legal way to manage your assets -- both during your lifetime and upon
your death. And since the software includes all of the
fill-in-the-blank legal forms and detailed instructions necessary to
create either a Joint Trust, a Single Trust or an A/B Trust, the Living
Trust software from Standard Legal is a great value in one easy-to-use
package! Complete details below...
CREATE ALL THE LEGAL FORMS YOU
NEED QUICKLY, EASILY, AFFORDABLY!
Have a Living Trust question?
REVOCABLE LIVING TRUST LEGAL
FORMS SOFTWARE: JOINT TRUST, SINGLE TRUST, A/B TRUST
A Living Trust allows you to legally decide two important issues
regarding your wealth:
- how you want your assets and property managed while you are
alive, and
- how you want your assets and property distributed after
your death.
A Living Trust can provide for the distribution of property upon your
death, just
like a Will. But a Living Trust is more effective in many
ways: a Will only takes effect upon death, while a Revocable Living
Trust provides the same ability to determine asset distribution upon
death AND provides a tool for protecting and managing property and
assets during your lifetime!
A Living Trust empowers a designated Trustee to manage
the trust's assets and property for the benefit of you and your family.
The Trustee can be anyone you choose -- including yourself! The asset management in
a Living Trust covers any number of financial or property-based
transactions: making one-time or recurring cash payments to a
beneficiary; transferring assets upon a designated date; making
financial moves under a specific set of circumstances; etc.
If I Become Incapacitated...
Further, should you become physically or mentally incapacitated, a
Living Trust is critical: it allows you to designate how you want your
estate handled without any direct court intervention or supervision.
You stay in control of your assets by making decisions and outlining
them within the Trust in advance of any incapacitation! The Probate
Court is kept out of the management of your estate!
Upon your death, the successor Trustee that you appoint within the
Living Trust will act much like the executor of a Will: the Trustee
will gather your assets; will pay any valid debts, claims and taxes;
and will distribute your property and assets as you have clearly
directed. More importantly, the structure of a Living Trust means the
assets are owned by the Trust and are not part of the deceased person's
estate -- so there is usually no need for a Probate Court's approval
before the transfer. As such, the often time-consuming and costly
probate process can be avoided!
This Living Trust software allows you to determine the type of Trust
desired, based completely on your personal situation. Using the
comprehensive information and instructions provided, you determine the
type of Trust that makes the most sense for you and your family. Pick
from any of these Trust structures, as all are included in the software:
- Joint Trust: For use by married couples whose property in
total is worth less than $1,500,000 and who want to provide income to
themselves while both alive, then to the surviving spouse, and finally
to transfer property to children/beneficiaries after the death of the
second spouse so as to avoid probate issues. There is no real need to
address federal estate tax issues, as the property will generally pass
under the marital tax credit (although the laws concerning such credit
are constantly changing).
- Joint Trust for Married Persons without Children: allows a
married couple without children to establish a trust with a
specifically named beneficiary, to allow the couple to pass along their
estate to a charity, a non-relative, a cause, etc.
- Basic Revocable Trust for Non-Married Persons with
Children: For use by a single person whose property in total is worth
less than $1,500,000 and who wants to provide income to him or herself
during his or her life, and then transfer property to
children/beneficiaries after their death so as to avoid probate issues.
There is no real need to address federal estate tax issues, as the
property will generally pass under the unified tax credit (although the
laws concerning such credit are constantly changing).
- Basic Revocable Trust for Non-Married Persons without
Children: For use by a single person whose property in total is worth
less than $1,500,000 and who wants to provide income to him or herself
during his or her life, and then transfer property after their death
(so as to avoid probate issues) to the persons that are named as
designated beneficiaries. This document is useful for those who do not
have children, do not want to transfer property to their children or
who merely want additional flexibility in the transfer of property
after their death. There is no real need to address federal estate tax
issues, as the property will generally pass under the unified tax
credit (although the laws concerning such credit are constantly
changing).
- A/B Trust: If you are married and your estate is valued
over $1,500,000, consider utilizing the A/B Trust Form documents; this
will allow you to take advantage of certain estate tax exemptions
totaling $1,500,000 (or more in the future; see the A/B Trust documents
for details).
Once the type of trust is determined, you create the Living Trust
documents necessary by completing the fill-in-the-blank legal
forms that are provided within the software. These legal
forms include:
- Revocable Living Trust Forms
- Assignment of Assets Form
- Quitclaim Deeds for Real Property
- Pour-Over Will Forms
- Living Will with Advanced Healthcare Directive
- Notice of Final Disposition of Bodily Remains
- Durable Power of Attorney for Property
- Certificate of Trust
- HIPAA Medical Records Release Authorization
If you were to purchase these legal forms as individual software titles, the
total cost would be in excess of $100. But by choosing the Standard
Legal Living Trust package, you get all of these legal forms plus a
thorough overview of Trusts and how to use them, for much less!
Tell me more about Living Trust Legal Forms Software!
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