How You Can Save Thousands Of Dollars With A Living Trust!

By - R. Douglas Cobb, CRPC

Cobb Planning Group

Here is your guide on how to save thousands of dollars with a Living Trust.

It's titled: "How To Save Thousands Of Dollars Using Living Trusts!

Let me ask you a couple of quick questions:

Do you know what a living trust is?

Do you know what it does, and doesn't do?

If you're not sure, then keep reading, so you will finally know the truth about Living Trusts... and whether you should have one or not. You see, there are all kinds of myths about how Living Trusts work, and what they can do for people. Having the right information can literally mean thousands of dollars of savings to you and your estate!

Let me start off by telling you that Living Trusts, when set up properly, can be one of the best financial tools available!

The key here, is that they must be set up properly.

If you establish any trust arrangement, and it hasn't been done properly, it may be worse than having no trust at all!

Fortunately, in most cases, the problems are easily fixed. In this report we'll give you an outline of what to do and how to set your trust up with the help of the right financial and legal advice.

If you haven't yet set up a Living Trust this report will provide you with the "how to" information you'll need to use as a guideline to make sure you get things done properly... the way you want!

A Living Trusts allows you to avoid the legal court expenses that can literally swallow up thousands of dollars of your financial assets in your estate!

First of all, let's define a "Living Trust".

A Living Trust is a legal document that allows you to change the ownership of certain assets to the trust. For example, you change the ownership of a stock or bond, from you as an individual, to the trust as the new owner.

You're basically switching the title from personal ownership, to ownership by a trust, with you serving as trustee, in most cases. (Your spouse can serve as co-trustee as well.)

Why would you want to do that?

We'll discuss the why in just a minute.

First, it is important to understand what a Living Trust is, and how it differs from other types of trusts that you can establish.

A "Living Trust ", is set up to hold your assets while you are alive.

A Living Trust is different from a "Testamentary" trust, because it focuses on the control of your assets while you are alive. (A Testamentary Trust activates upon death.) A Living Trust is also totally revocable.

That means that you, as trustee, can decide to cancel the trust, or switch things around, any way you choose, without any problems.

Hmmmm.. why is that helpful?

You might be wondering why someone would transfer the ownership of their assets to a Living Trust. Why would someone go through all this trouble, if the trust can be changed any time?

In a sentence you want to have the flexibility to arrange your assets and estate as you desire to provide maximum protection from taxes and probate fees!

The IRS and probate attorneys may not be happy to hear that... but that is good enough reason the know about Living Trusts!

It also affords you much greater privacy regarding your family financial matters that you may not want advertised all over town

How is that you say?

See, when you own assets in your estate either individually or in joint tenancy with your spouse, and you pass away, all of those assets becomes part of your "probate" estate.

Oh boy - not good!

This means that the ultimate disposition of your assets is supervised by a judge. The system is intended to ensure that the wishes of the deceased have been carried out properly, and that no one has tried to circumvent those wishes.

In theory that sounds good.

Unfortunately in practice it doesn't work very well... when you consider the time and expenses involved.

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