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Paul Rabelais, an estate planning attorney, discusses how to amend, modify, or revoke a revocable living trust. Many individuals across Louisiana and the U.S. establish these trusts to simplify estate settlement after death, avoiding the need for court processes which can be delayed and expensive. With a living trust, assets do not go through the court process upon death, making estate settlement easier. The trust specifies beneficiaries and trustees responsible for asset distribution, effectively replacing a will. Rabelais emphasizes the importance of understanding how to manage and update these trusts as circumstances change.
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