Revocable living Trust

[lmbrsn]

I am the trustee of my dad's estate,and I am glade he did it.
You just have to look out for relatives that think that they deserve more than what the trust said.

 

[TexasBred]

double post

 

[TexasBred]

This is a statement that is difficult to understand, "Bet a lawyer helped set up the trust for your mom and dad too. $$$$$$$"

If you're trying to get all material things covered so after you final breath things will be done as you desire, why would you NOT have something done be a specialist in the field? If it's not done completely and correctly it just as well not be done at all.

I think you missed the reason I made that post. t was in reference to this comment " With a will, there are lawyers involved after your death. They charge and have their won profit motives." I have absolutely nothing against attorneys and think people are foolish to handle what would be considered a legal matter without retaining one.

 

[D2Cat]

TB, you're correct. I missed it, but we're in agreement!

Be sure to get an attorney specializing in trust, not just your family atty. There's too much detail to "hope" they get it correct.

 

[cowboy43]

The Company I used charged a flat fee to set up the Trust using their attorney , the cost covers a live time service with no additional charge, including their attorney, I called the attorney for advice and it was no charge also once a year a representative comes to go over the estate to cover any concerns and answer any questions,
I know a lot of people using the same trust, and I had not had any concerns until the attorney I was using for something else brought up concerns and said I had done wrong by putting in a trust, Research since that has not revealed any negatives in using a trust, I am now seeking another attorney, whose expertise is in dealing with real estate and setting up a company.

 

[MudHog]

A trust is essentially a company without the tax liability and ins/outs of a company in general. Think of a company having a board of trustees, same thing as having a trust, just without the company name. I'll use a Gun Trust as an example. A person can setup an LLC and get the same benefits as having an NFA Trust, but an LCC must have a business name, most setup a business bank account, and the business has to maintain and file tax records (even though there are no revenue sales generated). An NFA Trust is everything an LLC is, without the bank account and tax filing. In this case, the trust is over an estate instead of NFA items.

 

[Stocker Steve]

We have a small piece of my great grandfathers land that my dad wanted to stay in the family. We now have my grandfather's ground that I bought back from a poor steward SOB, and I want this to stay in the family. I also have some other ground that I consider an investment that could be sold. And, now there is a gold digger daughter in law involved who seems to have some mysterious powers. :nod: Does this call for a "simple" will, or are there benefits with a revocable living trust?