Living Trust. Download online state specific estate planning (revocable living trust) documents. Void Probate
|
|
|
|
|
|
|
|
|
To better understand the issues relating to your legal situation or problem, our legal information and other law related facts may be of interest to you
|
|
|
|
|
|
|
Living trust doesn't protect Property from creditors.
A creditor who wins a lawsuit against you can go after the trust Property just as if you still owned it in your own name.
After your death, however, Property in a Living Trust can be quickly and quietly distributed to the beneficiaries (unlike Property that must go through Probate). By the time creditors find out about your death, your Property may already have been dispersed, and the creditors may not know exactly what you owned (except for real estate, which is always a matter of public record). It may not be worth the creditor's time and effort to try to track down the Property and demand that the new owners use it to pay your debts.
On the other hand, Probate can also offer a kind of protection from creditors. During Probate, known creditors must be notified of the death and given a chance to file claims. If they miss the deadline to file, they're out of luck forever.
|
|
|
|
|
|
Return to all Living Trust legal information
Legal Articles about Living Trust
Living Trust Frequently Asked Questions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Problems Solved by Estate Planning
A living trust can solve many of the problems encountered in estate planning. Some ...
|
|
|
|
|
|
Try to Avoid Probate with Living Trust
First of all, what is probate? We've heard various things about probate and we pretty ...
|
|
|
|
|
|
The AB Living Trust Saves Taxes
Some people must consider federal estate tax when planning their finances. Estate tax ...
|
|
|
|
|
|
Wells Fargo Study: After Eight-Year Bull Market, Most Working Americans Say the Stock Market is the 'Best Place to ...
Business Wire (press release)
Had investors allowed the correction to scare them off, they would have missed out on that growth opportunity,” said Joe Ready, head of Wells Fargo Institutional Retirement and Trust. .... assets, key factors that should be considered and compared ...
|
|
|
DSK Defaults: DS Kulkarni continues to promise repayment without revealing source of 'funding'; SEBI and exchanges ...
Moneylife
This suggests that DSKDL is careful to ensure no default to secured creditors while it has begun to default afterwards. This is exactly where the new rule of SEBI—about reporting defaults to the stock exchanges—will help protect investors by ...
|
|
|
|
|
|
|
|
|
|
|
|
|
|
