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Paul Rabelais, an estate planning attorney, discusses the importance of naming your living trust in this tutorial. He emphasizes that many people create revocable living trusts to ensure their assets are titled in the trust's name, allowing them to avoid probate and succession proceedings upon death. By naming a successor trustee, typically a child or adult children, assets can be distributed to beneficiaries without court or attorney involvement. The tutorial highlights that when establishing a living trust, it is crucial to select an appropriate name or title for the trust and to manage the assets appropriately to prevent them from needing to go through probate.
