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The Living Trust: The Failproof Way to Pass along Your Estate to Your Heirs without Lawyers, Courts, or the Probate System

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". . . is unquestionably the layman's most nearly complete source on living trusts. . . . Recommended reading for anyone who wants to maximize his net estate left to heirs,speed asset distribution after death,avoid will challenges,minimize estate costs,and maintain privacy. " ? Robert Bruss,Esq.,and Nationally Syndicated Real Estate Columnist Chicago Tribune ". . . presents in clear,concise,and readable language what every person needs to know. I heartily recommend it as required reading for every caring ...
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Overview

". . . is unquestionably the layman's most nearly complete source on living trusts. . . . Recommended reading for anyone who wants to maximize his net estate left to heirs,speed asset distribution after death,avoid will challenges,minimize estate costs,and maintain privacy. " — Robert Bruss,Esq.,and Nationally Syndicated Real Estate Columnist Chicago Tribune ". . . presents in clear,concise,and readable language what every person needs to know. I heartily recommend it as required reading for every caring husband,wife,parent—all those with an estate to pass along to heirs. " — Byron Countryman,Esq. Countryman and McDaniel Attorneys at Law,Los Angeles Why The Living Trust Is So Important You may think your heirs have been well provided for,but did you know that:
  • Your loved ones may have to wait more than two years before receiving a penny from your estate—even though you have left a legally valid will?
  • Costs of probating your will may eat up more than 10 percent of your estate-money your heirs will never receive?
  • The specific instructions of your bequest may be contested or changed completely—even though clearly spelled out in your will?
  • Once a will is probated,it becomes a matter of public record—anyone can access the information just by going to the courthouse and asking for your tile?
  • A will cannot help you in life? If you become incapacitated or your judgment comes into question,it becomes a matter for the courts to decide and is,again,a very public process. A Living Trust is a simple,inexpensive legal alternative that eliminates the costs and delays of probate and ensuresthat yourloved ones will receive their inheritance promptly and exactly as you intended. It is also the only estate planning tool that allows you to plan for your own incapacity or for avoiding competency hearings. When The Living Trust was published in 1989,it quickly became the bible on how to avoid probate. This updated edition includes information on the new IRA Q-TIP Trust,the Spousal and Family Support Trust,and the Family Limited Partnership. In addition,there is new material on the Charitable Remainder Trust (to preserve a large estate),the Gift Trust (to reduce the impact of inflation),protection for the handicapped,and a checklist of more than 150 "must" provisions that separate a good Living Trust from a bad one. Also included is up-to-date information about trusts for unmarried couples,placing assets in your trust,what should never be placed in your trust,and much,much more. A nationally recognized authority on Living Trusts,Henry W. Abts III is chairman and founder of The Estate Plan,the nation's oldest and largest Living Trust production corporation,responsible for creating more than 25,000 Living Trusts. A graduate of the University of Southern California,Abts holds a master's degree from the Stanford University Graduate School of Business.

A licensed and registered investment advisor explains the costs and disadvantages of probate and how to avoid them with a living trust.

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Editorial Reviews

Library Journal
While not a new concept, the living trust as a form of estate planning is not well known to the general public. Abts joins a chorus of experts recommending this device, which largely replaces a will and avoids passing property through probate. This is a detailed and competent, if somewhat stolid, presentation. Readers may get bogged down in matters such as the tax consequences of holding joint property before they reach anything substantive on living trusts. Robert A. Esperti and Renno L. Peterson's Loving Trust ( LJ 6/15/88) is a better organized and a more engagingly written treatment of this topic. Nevertheless, Abts is somewhat more thorough, and his book can be recommended to libraries where interest is high.-- Jack Ray, Loyola/Notre Dame Lib., Baltimore
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Product Details

  • ISBN-13: 9780809230310
  • Publisher: NTC Publishing Group
  • Publication date: 4/28/1997
  • Edition description: REVISED
  • Edition number: 2
  • Pages: 384
  • Product dimensions: 8.54 (w) x 10.92 (h) x 1.00 (d)

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  • Anonymous

    Posted July 28, 2001

    This book saved mom's Trust

    My mother had a trust drawn up 10 years ago and the more I heard about it from her the more concerned I got. I started to study books, phamplets, etc. Each one helped, but the one that turned out to be the 'bible' of all these resources was this book. Using Abts book, I was able to convince my Mother that she needed a new Trust and was able to give the lawyer a list of the issues and provisions that we wanted included in her new Trust. We both feel much more informed about how her savings will be administered and passed on with the least amount of administrative expenses. Now I need to buy his book on how to administer her Trust

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