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They are useful in a variety of very specific circumstances, but as discussed below, in Pennsylvania, Revocable Living Trusts are unnecessary in most cases. A Revocable Living Trust is a Trust that a person, called the Grantor, creates, funds, and retains control over during his lifetime.
Generally, a Living Trust, produced by an attorney, ranges in price from $2,000 to $4,000. The Trust includes all documents required to establish the Trust, powers of attorney, both financial and healthcare-related. In California, a Will typically ranges from $400 to $700.
You'll likely spend a few hundred dollars at most. Additionally, this method is less expensive than hiring an attorney, but DIY estate planning also presents some risks. If you'd rather hire a lawyer, you'll likely spend at least $1,000. This could be a less risky approach than DIY planning, but it'll cost you more.
A living trust is a form of estate planning that allows you to control your assets (your money and property) while you are still alive, but have it distributed to people or organizations you select when you die. Depending on your own financial situation they might be appropriate, but they are not for everyone.
A Trustee is a person who acts as a custodian for the assets held within a Trust. He or she is responsible for managing and administering the finances of a Trust per the instructions given. Often, the person who creates the Trust is the Trustee until they can no longer fill the role due to incapacitation or death.
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A living trust, unlike a will, can keep your assets out of probate proceedings. A trustor names a trustee to manage the assets of the trust indefinitely. Wills name an executor to manage the assets of the probate estate only until probate closes. Trusts tend to be more expensive and more complex to maintain than wills.
After a trust maker dies, the person who has been appointed trustee has the job of administering the trust. This means that the trustee is responsible for managing the trust assets and distributing them according to the instructions contained in the trust agreement.
To make your trust valid in California, you simply need to sign the trust document \u2014 that's it! You don't need to have your document witnessed or notarized to make it valid. However, many people choose to sign their document in the presence of a notary public to help authenticate the document.
A trust is a legal arrangement through which one person, called a "settlor" or "grantor," gives assets to another person (or an institution, such as a bank or law firm), called a "trustee." The trustee holds legal title to the assets for another person, called a "beneficiary." The rights of a trust beneficiary depend ...
A living trust is a form of estate planning that allows you to control your assets (your money and property) while you are still alive, but have it distributed to people or organizations you select when you die. Depending on your own financial situation they might be appropriate, but they are not for everyone.

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