Includes bibliographical references (pages 391-397) and index.
CONTENTS NOTE
Text of Note
Continuing need for estate planning -- Framework of a revocable living trust -- Trustee's powers, duties, and responsibilities -- Property management and other benefits -- Disadvantages, reservations, and limitations of a revocable living trust -- Lifetime operation of a revocable living trust -- Federal income tax -- Federal and state transfer taxes -- Overview of the funding process -- Real property interests -- Publicly-traded securities and U.S. government obligations -- Closely-held business interests -- Acounts inbanks, saving associations, and credit unions -- Tangible and intangible personal property -- Qualified and nonqualified retirement plans -- Life insurance and annuities -- Power of attorney and pour-over will.
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SUMMARY OR ABSTRACT
Text of Note
A comprehensive guide to designing, funding, and managing a revocable living trustA revocable living trust cannot operate effectively if it is not funded properly. Living Trusts is a complete guide to designing, funding, and managing such a trust. The Third Edition explains how a revocable living trust operates, how to manage its day-to-day operations, and how to transfer title to real property and other assets to a trustee without losing control over the assets. Trust expert Doug Moy explains how to avoid court-supervised and financial guardianship and how to keep a revocable living trust pro.