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In this video, estate planning attorney Paul Rabelais discusses the importance of naming your living trust. He explains that many people establish revocable living trusts to avoid probate, which is a court-supervised process that involves attorneys when distributing assets after death. By titling assets in the name of the trust, individuals ensure that their assets can be dispersed directly to beneficiaries without court involvement. Rabelais emphasizes the role of a successor trustee, often a family member, who will manage the distribution of trust assets upon the creator's death, simplifying the process and avoiding additional legal complications. The video provides insights into effectively naming and managing a living trust.
