The Only Living Trusts Book You’ll Ever Need: How to Make Your Own Living Trust, Avoid Probate & Protect Your Heirs (Plus Protect ets & Save Thousands on Taxes) (Estate & Retirement Planning)

Excellent! Just what I wanted

"The Only Living Trust" by Scott C. F. McLean is an insightful and practical guide that demystifies the concept of living trusts for readers who may not have a legal background. McLean's writing is accessible yet thorough, making complex legal concepts understandable for the average person. Key Themes and Concepts Understanding Living Trusts: The book begins by breaking down what a living trust is and how it functions. McLean emphasizes its role in estate planning, particularly in avoiding probate, which can be a lengthy and costly process. Benefits of a Living Trust: The author outlines several advantages, including: Privacy: Unlike wills, living trusts do not become public records. Control: Grantors can specify terms regarding asset distribution and management during their lifetime and after death. Flexibility: Living trusts can be modified or revoked as circumstances change. Step-by-Step Guidance: McLean offers a step-by-step approach to creating a living trust, discussing the necessary components such as selecting a trustee, listing beneficiaries, and detailing asset management. Common Mistakes: He highlights frequent pitfalls people encounter when setting up trusts, such as failing to fund the trust properly or misunderstanding tax implications. Legal Considerations: The book provides a straightforward overview of the legal requirements for establishing a living trust, which varies by state. This aspect is particularly useful for readers looking to navigate their state’s specific regulations. Writing Style and Accessibility McLean's tone is conversational, making the material not only informative but also engaging. He avoids legal jargon where possible and uses real-life examples to illustrate how trusts can be beneficial in various scenarios. This approach helps to demystify what can often be seen as a daunting subject. Conclusion Overall, "The Only Living Trust" is an invaluable resource for anyone considering estate planning or looking to understand living trusts better. It empowers readers with the knowledge needed to make informed decisions about their financial future. For anyone contemplating the establishment of a living trust, this book serves as both a primer and a practical manual, offering clear insights into the process, benefits, and common pitfalls. If you’re considering setting up a living trust, this book might be just the guide you need to get started.

Great Insight

Excellent read, easy to follow for beginners trying to setup living trust. Very informative.

"The Only Living Trusts Book You Will Ever Need" will give you an explanation of the process that will keep your estate from going through Probate upon your passing. Before I comment further, let me say that you will want to consult an attorney to have your official TRUST DOCUMENT created. I bought this book to update my personal knowledge about the subject of transferring my estate to a beneficiary upon my death. About twenty five years ago my mother and I had a Living Trust created by an attorney in order for my mother's estate to pass to me tax free and without going through Probate. What is Probate you ask. WILLS GO THROUGH PROBATE. Probate is the legal process through which a deceased person's estate is properly distributed to heirs and designated beneficiaries, and through which any debts owed to creditors is paid off. I asked Google about how many people have wills, and, only about 32% to 46% of American adults have a will, with recent studies showing a decline, meaning the majority (over half) lack one, despite recognizing its importance. Many families learn the hard way that Probate is frequently a long drawn out affair. Families are made to wait while the attorneys do their do diligence. The "Do Diligence" delays the reading of the Will and distribution of the deceased's estate because the attorneys can't find Uncle Charlie somewhere in Florida because he is mentioned in the WILL. And, ATTORNEYS CHARGE BIG FEES TO DO THIS. Living Trusts are a way that wealthy families avoid all the waiting and legal fees associated with Probate. The estate simply passes from the deceased person to the heirs smoothly and timely...and may I add quietly. Nobody but the banker knows anything. Once the deceased's estate is in the hands of the heirs, the person designated in the Trust Document is responsible for doing the distribution according to the wishes of the deceased. And this book tells you all about this process in simple terms, if you need a more simple explanation than what I have given you here. By the way, I am NOT an attorney and my explanation above is free.