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In this video tutorial, Paul Rabelais, an estate planning attorney, reveals a lesser-known secret to naming or titling your living trust. Many people choose to establish revocable living trusts to avoid the court-supervised probate process. By placing assets in a trust, they can be dispersed to beneficiaries without involving an attorney or court. When setting up a living trust, a name or title must be given to the trust, along with designating a successor trustee to manage the assets after the individual's passing. This strategy helps to ensure a smooth transfer of assets to beneficiaries without the need for legal intervention.
