A Living TrustEveryone should have one.

• A couple of items to keep in mind when going through this Living Trust presentation:

• Age is not a factor in determining whether or not a person should have a Living Trust. Everyone should have one.

• If you parent(s) do not have a Living Trust it would be most advisable for them to consider one.

A revocable Living Trust• Protects and preserves your assets and

income while you are alive and • In case you become incapacitated, allows for

an appointed individual to make your medical and financial decisions and

• Reduces the cost and time to move your assets to the next generation preserving your family legacy.

WILL = PROBATEWHAT IS PROBATE?

• Probate is the court process by which legal title of property is transferred from the decedent's estate to his or her beneficiaries. Once the owner of the asset dies, probate court is the legal process needed to take their name off the title of an asset and put it in the new owner's name.

ProbateProblem: Cost

• 1. Average Cost - 10% of gross estate for probate costs. This includes your home, CDs, brokerage

accounts, IRAs, 401ks, life insurance, and annuities.

ProbateProblem: Time

• 1. 10% of gross estate for probate costs

• 2. Time - takes 6 months to 2 years or longer

ProbateProblem: Public

1. 10% of gross estate for probate costs2. Time - takes 6 months to 2 years or longer

3. Public – legal process

ProbateProblem: Stress

1. 10% of gross estate for probate costs2. Time - takes 6 months to 2 years or longer3. Public – legal process

4. Stressful – on executor & heirs

-A Living Trust is an entity you create to hold title to your assets

Things you need to know about a Revocable Living Trust

• 1) You are in complete control of your assets

• 2) Does not change the way you do your Taxes

• 3) The Trust does not protect you from a Lawsuit

• 4) The Trust does not protect you from a Nursing Home

• 5) A Trust simply avoids Probate

• 6) If you own property in 2 states, you will go through Probate in both states

• 7) A Trust is not used for Estate Tax Planning unless….

Administration of a Revocable Living Trust by Heirs

What happens when the last trustee passes?

1. Immediate Access to Trust Assets

A certified copy of a death certificate is all that is needed

2. Private

• 3. Inexpensive

4. No Stress

WILL = PROBATE REVOCABLE LIVING TRUST

» FUND» Transfer Title of» Assets Into Trust

15

Assets

At DeathCost: $0

Time: 1-3 DaysPrivate

Peace of mind

Beneficiaries

At DeathCost: 10% of Gross Estate

Time: 6 mo-2 yrsPublic Process

Stressful

Beneficiaries

Living Trust Summary

Trust Agreement, Durable Powers of Attorney, Living Will, Pour Over Will, Deed Transfer

Review your Living Trust – Make it Florida Friendly. Complimentary