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Make Your Own Living Trust 11th Edition
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Top Customer Reviews
As I've written in reviews of other NOLO books. I find their volumes extremely worth the price, well researched, up to date, and in a word comprehensive. If you are looking to set up your own living trust , or just wish to understand the process completely before hiring an attorney, I give this five stars.
In addition, I disagree with the Dennis about not putting your bank account, and some other assets into your trust. Do you think the bank is going to turn over cash to your heirs upon the death of the you or your spouse? I don't think so. They will require Probate to let them do it, and don't let anyone tell you different.
If you do your own living trust with this workbook, make sure you get written approval that your bank, stockbroker, or any other institute will accept these forms. There is no law that says you can't do your own living trust. Never assume anything where assets are involved.
Finally, in my opinion I would recommend that you have an arbitration clause in your trust that says that if anyone contests or disagrees with your final wishes that they are settled by binding arbitration without lawyers. Whatever you decide I hope you do a living trust to protect your assets from going through Probate, even if you have a very small estate.
The problem with any legal issue is the wrinkles that come about, and that fact seems to be especially true when it comes to life--and that's what wills and trusts are all about. Writing a valid will is very simple if you want to leave all your property to your spouse, for example, but if you want to put some aside for the child from a previous marriage, want to ensure that some of your money is set aside to educate the children of this marriage, and so on and so forth . . . then things get complicated. And when you add in the types of property--separate versus community, real estate, bank accounts, insurance policies, and so forth--things can get really complicated.
I would not recommend that someone with a complicated situation necessarily use this book to create a complex living trust, but I would recommend this book to just about anyone considering a living trust. The book is easy to read, divided into common-sense sections, and designed to be read by a layperson. In other words, there's no sentence in here that reads "The devisee must be of majority at the time of the establishment of the granting document provided horizontal privity exists in a case of non-mutual offensive collateral estoppel." (To be clear, that sentence is mostly gibberish using various legal terms from wills, contracts, property, and evidence law.Read more ›
The 11th Edition to Making Your Own Living Trust is an easy to read book. The book gives you an overview of living trusts, why living trusts are easy to set up, and all the ins and outs of how to set one up. The book also offers eForms and tear-out forms to assist in setting one up. Using this book, will help you to decide if a living trust is appropriate for you and your family. However, the key to it is learning how a living trust will let your family skip probate court; saving money, time, and effort.
Most Recent Customer Reviews
Excellent reference book. I was able to create my Living Trust the way I wanted to, however to be safe it was worth having a attorney review this Living Trust I wrote.Published 3 months ago by Robert
For those who live in a state that taxes inheritances or if you have a sufficient net worth to try to minimize Federal Tax, this book is certainly worth the read.Published 13 months ago by RFMeaux
This is a great book and I was able to prepare my living trust with it and learn a great deal in the price.Published 15 months ago by Arlindo da Silva