PDF Ebook Make Your Own Living Trust, by Denis Clifford
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Make Your Own Living Trust, by Denis Clifford
PDF Ebook Make Your Own Living Trust, by Denis Clifford
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Living trusts simplified! Protect your family and avoid probate with this bestselling guide
Death may be inevitable, but probate doesn't have to be. By creating a living trust, your property will bypass lengthy and expensive probate proceedings and go directly to the people you've designated, quickly and easily.
Make Your Own Living Trust explains how to create a living trust, transfer property to the trust, and amend or revoke the trust at any time. You'll learn how to:
. create various living trusts, including an AB trust (also known as a "marital trust" or "bypass trust")
. transfer assets to your trust, including real estate, stocks and bonds, jewelry, art or a small business
. name beneficiaries for all trust property
. sign your document and make it legal
. appoint someone to manage property left to minors or young adults
. provide for trust property management if you become incapacitated
. retain absolute control over trust property while you live
. register, amend, or revoke a trust
Make Your Own Living Trust includes all the forms you need to create your own trust, plus step-by-step instructions for filling them out. Completely updated and revised, this edition includes the latest tax and legal information, including updated information about the federal estate tax.
Good in all states except Louisiana.
--Download forms for book at nolo.com
- Sales Rank: #369604 in Books
- Published on: 2013-02-28
- Original language: English
- Number of items: 1
- Dimensions: 10.69" h x .71" w x 8.36" l, 1.75 pounds
- Binding: Paperback
- 352 pages
Review
"You can set up your living trust yourself, but don't forget to transfer your home's title into your living trust... A good book to read first is Make Your Own Living Trust." -- Robert Bruss The Washington Post
Most helpful customer reviews
52 of 53 people found the following review helpful.
Nolo are usually 5 stars and this is as well!
By Richardson
I am developing quite a library of Nolo books on a variety of topics and they have served me well as a home owner, and business owner. I've gone through the living trust with my parents and wanted to set one up for myself. This book is a tremendous reference and is enabling me to do this. Firstly , the book is a wonderfully researched document about WHY a living trust is necessary. The book not only describes trusts and their value in avoiding probate and taxes but gives the reader an extensive list of scenarios which cover most of the potential problems or irregularities a family may have which would deviate from straight forward applications. Besides the extensive volume, the reader also has access to online forms and podcasts and videos on the topic to round out the educational experience.
As I've written in reviews of other NOLO books. I find their volumes extremely worth the price, well researched, up to date, and in a word comprehensive. If you are looking to set up your own living trust , or just wish to understand the process completely before hiring an attorney, I give this five stars.
87 of 93 people found the following review helpful.
Make Your Own Living Trust
By Michael Monji
I understood what Dennis was saying, but I have spent over 1000 researching living trust, and I had a difficult time with some of the forms. I do say that this is a book that will help you complete your trust, and I recommend that everyone have a trust to prevent the horrors of Probate. I say this, because my father died with an estate on paper worth $285,000, and after four years of Probate I received $211.77, but he only had net assets of $125,000. The probate system gets paid on the gross estate, not the net estate.
In addition, I disagree with the Dennis about not putting your bank account, and some other assets into your trust. Do you think the bank is going to turn over cash to your heirs upon the death of the you or your spouse? I don't think so. They will require Probate to let them do it, and don't let anyone tell you different.
If you do your own living trust with this workbook, make sure you get written approval that your bank, stockbroker, or any other institute will accept these forms. There is no law that says you can't do your own living trust. Never assume anything where assets are involved.
Finally, in my opinion I would recommend that you have an arbitration clause in your trust that says that if anyone contests or disagrees with your final wishes that they are settled by binding arbitration without lawyers. Whatever you decide I hope you do a living trust to protect your assets from going through Probate, even if you have a very small estate.
41 of 42 people found the following review helpful.
Nolo produces top-notch guides
By P. Mann
A living trust is an alternative to a will, one that avoids probate. The idea is simple. You create a trust by declaring yourself the "grantor" and "trustee," put value (money or property) into the trust, name the beneficiaries and someone to become trustee when you die, and there you have it. Of course, the process is more complicated than I've indicated, which is why Nolo has put out this 300+ page book.
The problem with any legal issue is the wrinkles that come about, and that fact seems to be especially true when it comes to life--and that's what wills and trusts are all about. Writing a valid will is very simple if you want to leave all your property to your spouse, for example, but if you want to put some aside for the child from a previous marriage, want to ensure that some of your money is set aside to educate the children of this marriage, and so on and so forth . . . then things get complicated. And when you add in the types of property--separate versus community, real estate, bank accounts, insurance policies, and so forth--things can get really complicated.
I would not recommend that someone with a complicated situation necessarily use this book to create a complex living trust, but I would recommend this book to just about anyone considering a living trust. The book is easy to read, divided into common-sense sections, and designed to be read by a layperson. In other words, there's no sentence in here that reads "The devisee must be of majority at the time of the establishment of the granting document provided horizontal privity exists in a case of non-mutual offensive collateral estoppel." (To be clear, that sentence is mostly gibberish using various legal terms from wills, contracts, property, and evidence law.) The book is entirely readable and easy to understand, at least in small bites. (I definitely wouldn't try reading this in one sitting.)
Because of the importance of the trust in providing for children or others and the inability of the decedent to fix anything after death, setting up a trust is something you want to get right. Using this books and downloadable forms, you probably can do it right if things don't get too complicated. However, as I noted above, complicated cases probably do mean you should go to a lawyer. But I STILL recommend this book. At the $40 list price, it costs about the same as 12 minutes of an attorney's time, and it will help you understand the attorney, know what issues are important, and perhaps even guide the establishment of the trust. I should think at the very least, spending the money on this book and going into an attorney's office prepared will save you more than $40 on fees.
I highly recommend this book for (1) demystifying a potentially confusing issue, (2) allowing people to create their own trusts in some cases, and (3) at least letting them know what the relevant issues are.
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