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In this video, Paul Rabelais, an estate planning attorney, discusses the key aspects of naming a revocable living trust. He emphasizes that many people establish these trusts to ensure their assets are titled in the trust's name, avoiding probate and the involvement of attorneys upon death. A successor trustee, often a child, is designated to distribute the assets to beneficiaries without court intervention. Rabelais points out that every living trust requires a name or title, especially for assets that would otherwise go through probate. This planning helps clients maintain order in their legal affairs and streamline the transfer of assets.
