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In this video, Paul Rabelais, an estate planning attorney, discusses the important but often overlooked aspect of naming a revocable living trust. He explains that many individuals establish living trusts to ensure their assets are titled in the trust's name, allowing them to bypass court-supervised probate upon death. With a living trust, assets can be distributed to beneficiaries without attorney or court involvement. The trust owner designates a successor trustee, typically a child or family member, to manage the distribution of assets after their death. Rabelais emphasizes the necessity of properly naming the trust and managing the assets to prevent probate complications.
