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In this video, Paul Rabelais, an estate planning attorney, discusses key strategies for naming a living trust. Many individuals establish revocable living trusts to ensure their assets are titled in the trust's name, allowing them to avoid probate, which requires court supervision and legal involvement. He explains that after creating a living trust, it’s crucial to assign a name or title to the trust and designate a successor trustee—often a child—to manage the distribution of assets to beneficiaries upon the trust creator's death, bypassing court processes. The focus is on simplifying estate management and ensuring a smooth transition of assets.
