One of the most important inheritance planning tools people can create is the revocable living trust. Through this type of trust, you can take what would normally be probate assets and turn them into non-probate assets. In other words, with a revocable living trust you can make most, and potentially all, of your inheritance choices outside of the probate process. It’s only those assets that do not otherwise transfer outside of probate, or those you forget to transfer into the trust’s name, that will have to be probated.
Topics covered in this report include:
- Testamentary Gifts
- Transfer-on-Death Assets
- Non-Probate Transfers
- Creating, Changing, and Updating Your Plan
Click here to read the whole article or download the PDF.
Founder and Owner at Parman & Easterday
After helping his own family deal with a lengthy probate and the IRS following his father’s untimely death in a farm accident, Larry Parman made a decision to help families create effective estate plans designed to reduce taxes, minimize legal interference with the transfer of assets to one’s heirs, and protect his clients’ assets from predators and creditors.
Latest posts by Larry Parman, Attorney at Law (see all)
- Does Your Estate Plan Address Incapacity? - October 25, 2022
- What Is a QDOT and Why Would You Use One? - October 20, 2022
- This Case Demonstrates the Dangers of DIY Estate Planning - October 18, 2022
