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Paul Rabelais, an estate planning attorney, discusses how to amend, modify, or revoke a revocable living trust. Many individuals set up these trusts across the U.S., including Louisiana, to simplify estate settlement after death. The primary purpose is to prevent assets from being frozen upon death, avoiding the need for lawyers and court processes, which can be costly and time-consuming. A living trust allows for easier distribution of assets without court involvement. It designates beneficiaries and trustees within the trust document, effectively replacing a will in terms of asset management and distribution after the individual's passing.
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