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In this video, Darcel Lobo, owner of a law firm, discusses the fundamentals of funding a revocable living trust, an estate planning document that facilitates the management and distribution of assets without the probate process. The revocable living trust is advantageous because it avoids probate for the estate. For the trust to function properly, it must own the assets, which is why it is crucial to fund the trust with the client’s existing assets. The video will outline the process of funding a revocable living trust, emphasizing real estate owned in the individual’s name and how it should be transferred to the trust.
