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The Living The Living TrustTrust

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The Inter Vivos The Inter Vivos Revocable TrustRevocable Trustbetter known as the better known as the “Living Trust” has been “Living Trust” has been around for over 200 around for over 200 years. It originated years. It originated with the “Statute of with the “Statute of Uses” in England and Uses” in England and became part of our law became part of our law when our country adopted when our country adopted English Law.English Law.

It takes the place of a It takes the place of a Will and provides more Will and provides more secure protection and secure protection and tax savings when you tax savings when you die. Its greatest die. Its greatest benefit is preventing benefit is preventing Probate.Probate.

What is Probate?What is Probate?•Probate is the legal process for Probate is the legal process for transferring your assets when you die.transferring your assets when you die.

•It is very costly. Probate fees will It is very costly. Probate fees will cost as much as 10% of the total value cost as much as 10% of the total value of your assets.of your assets.

•It locks up your assets during the It locks up your assets during the probate process which can be as short probate process which can be as short as 6 months or as long as 3 years.as 6 months or as long as 3 years.

•It makes your estate a matter of public It makes your estate a matter of public record. Anyone can see what you have record. Anyone can see what you have and can make a claim against it.and can make a claim against it.

The Worst Thing About The Worst Thing About Probate…Probate…•It doesn’t take debt into It doesn’t take debt into consideration! For example, If your consideration! For example, If your home is worth $300,000 but you owe home is worth $300,000 but you owe $250,000 on your mortgage.. Probate $250,000 on your mortgage.. Probate will charge 10% in Probate fees on will charge 10% in Probate fees on the the entireentire $300,000 value of your $300,000 value of your home. That would be $30,000 in home. That would be $30,000 in Probate fees just on your home. What Probate fees just on your home. What you owe in debt on the house makes you owe in debt on the house makes no difference. A Living Trust is no difference. A Living Trust is always better than a Will!always better than a Will!

If you have a Will…If you have a Will…

•A Will is an invitation into A Will is an invitation into Probate. It is nothing more than Probate. It is nothing more than instructions to the Probate judge. instructions to the Probate judge. You don’t want to have a Will.You don’t want to have a Will.

•A Will can be contested very easily A Will can be contested very easily in Probate court. Anyone can enter in Probate court. Anyone can enter a claim against your estate in a claim against your estate in Probate. Relatives, creditors, the Probate. Relatives, creditors, the IRS…they can all make claims IRS…they can all make claims against your assets if you have a against your assets if you have a Will…and many times they win!Will…and many times they win!

Why Do Attorneys Prefer Why Do Attorneys Prefer Wills?Wills?•Attorneys prefer to do Wills because Attorneys prefer to do Wills because when you die they get to do the when you die they get to do the Probate. Probate.

•Most of the Probate fees go to the Most of the Probate fees go to the attorney who probates the Will. attorney who probates the Will.

•Attorneys would rather put you into Attorneys would rather put you into a Will so they can make tens of a Will so they can make tens of thousands of dollars on the Probate thousands of dollars on the Probate instead of charging you a one time instead of charging you a one time modest fee for a Living Trust.modest fee for a Living Trust.

What are the Other What are the Other Advantages of a Living Advantages of a Living Trust?Trust?•They are extremely private and They are extremely private and almost impossible to contest.almost impossible to contest.

•For a married couple they double For a married couple they double the Estate Tax exemption.the Estate Tax exemption.

•They pass your assets to your They pass your assets to your loved ones at your death in the loved ones at your death in the exact way you want them to be exact way you want them to be passed without any taxes for your passed without any taxes for your loved ones to pay.loved ones to pay.

A Living Trust Also A Living Trust Also Provides Some Living Provides Some Living BenefitsBenefits• They give your loved ones the legal power They give your loved ones the legal power to take care of you if you are injured or to take care of you if you are injured or ill.ill.

• They let you name the person you want to They let you name the person you want to take care of you as Conservator if you take care of you as Conservator if you become incompetent from injury or illness become incompetent from injury or illness like Alzheimer's disease.like Alzheimer's disease.

• They provide for the care of your minor They provide for the care of your minor children if both parents die prematurely.children if both parents die prematurely.

• They give legal instructions to the doctor They give legal instructions to the doctor on whether you want to be maintained on on whether you want to be maintained on life support if you are brain dead with no life support if you are brain dead with no chance of recovery.chance of recovery.

A Living Trust is Very A Living Trust is Very VersatileVersatile• Unlike a Will, you only have to do a Unlike a Will, you only have to do a Living Trust once. You don’t have to redo Living Trust once. You don’t have to redo the document every time you change the document every time you change something.something.

• You can change a Living Trust yourself You can change a Living Trust yourself and easily provide for changes without and easily provide for changes without having to pay to have a lawyer do it.having to pay to have a lawyer do it.

• You can change your beneficiaries and You can change your beneficiaries and your Successor Trustees who will take your Successor Trustees who will take over when you die and you can do it at over when you die and you can do it at any time without any cost.any time without any cost.

• Best of all, you don’t need an attorney Best of all, you don’t need an attorney to settle your estate when you die. Your to settle your estate when you die. Your children or other loved ones can serve as children or other loved ones can serve as successor trustees and do the settlement successor trustees and do the settlement very easily.very easily.

How Does a Living Trust How Does a Living Trust Work?Work?•A Living Trust is revocable which A Living Trust is revocable which means you can change it, modify means you can change it, modify it, or cancel it, anytime you it, or cancel it, anytime you want. You do not lose control of want. You do not lose control of your assets. You continue to run your assets. You continue to run your life and control your assets your life and control your assets just like you did before doing a just like you did before doing a Living Trust. Living Trust.

How Do You Place Your How Do You Place Your Assets into the Living Assets into the Living Trust?Trust?•To put your assets into the Living To put your assets into the Living Trust all you do is change the name of Trust all you do is change the name of the owner on your asset to the name of the owner on your asset to the name of your Living Trust. This is a simple your Living Trust. This is a simple process. All you do is notify your process. All you do is notify your asset holder that you have formed a asset holder that you have formed a Living Trust and you want the account Living Trust and you want the account name changed to the name of the Trust. name changed to the name of the Trust. Your home is placed into the Living Your home is placed into the Living Trust by doing a quit claim deed making Trust by doing a quit claim deed making the Trust the owner of your equity.the Trust the owner of your equity.

You Are Always In You Are Always In ControlControl•As Trustee, Trustor, and As Trustee, Trustor, and Beneficiary you maintain control Beneficiary you maintain control over the Trust operation and over over the Trust operation and over your assets in the trust. You can your assets in the trust. You can take them out of the Trust any take them out of the Trust any time you want and you can sell time you want and you can sell them, rent them, trade them, or them, rent them, trade them, or spend them. Its all up to you… spend them. Its all up to you… you you have full controlhave full control..

You Can Set the Trust up You Can Set the Trust up Any Way You WantAny Way You Want

•You can name individual beneficiaries You can name individual beneficiaries and how you want them to receive their and how you want them to receive their share when you die. You can leave share when you die. You can leave uneven amounts to each heir or uneven amounts to each heir or completely disinherit a child. You can completely disinherit a child. You can keep funds in the trust to be used for keep funds in the trust to be used for the education of your children or the education of your children or grandchildren, or provide for a grandchildren, or provide for a disabled child if you wish. It’s all up disabled child if you wish. It’s all up to you. If you ever change your mind…to you. If you ever change your mind…you can change the Trust to suit your you can change the Trust to suit your wishes.wishes.

Lets Look At the Documents Lets Look At the Documents In A Heritage Living TrustIn A Heritage Living Trust• The Introductory Letter With Special Instructions:The Introductory Letter With Special Instructions: This document outlines all of the parties to your This document outlines all of the parties to your trust and gives specific instructions on how to trust and gives specific instructions on how to execute your Trust.execute your Trust.

• The Abstract of Trust:The Abstract of Trust: This is a short-form This is a short-form version of your Living Trust document and the one version of your Living Trust document and the one you present if your bank or any other authority you present if your bank or any other authority asks for a copy of your Trust.asks for a copy of your Trust.

• The Living Trust:The Living Trust: This is the main Trust document This is the main Trust document that contains your wishes and instructions.that contains your wishes and instructions.

• Schedules:Schedules: These are the documents where you list These are the documents where you list all of the assets you want in your trust. There all of the assets you want in your trust. There are provisions for real estate and personal are provisions for real estate and personal property.property.

• Personal Property Transfers and Disposition of Personal Property Transfers and Disposition of Personal Effects:Personal Effects: This document is where you This document is where you specify bequests of specific personal property, specify bequests of specific personal property, jewelry, collections, family heirlooms, pets, etc.jewelry, collections, family heirlooms, pets, etc.

Additional Documents…Additional Documents…• Amendments to the Trust:Amendments to the Trust: This document allows This document allows you to make changes in your Trust yourself. you to make changes in your Trust yourself. Simply note the desired change, then date, and Simply note the desired change, then date, and notarize, and its done.notarize, and its done.

• Assets Durable Power of Attorney:Assets Durable Power of Attorney: This document This document allows the person you appoint to function in allows the person you appoint to function in your place in matters of business when you your place in matters of business when you cannot.cannot.

• Pour Over Wills:Pour Over Wills: This document directs all This document directs all assets inadvertently left out of the Trust to be assets inadvertently left out of the Trust to be “poured over” into the Trust once they have “poured over” into the Trust once they have cleared Probatecleared Probate

• Living Will:Living Will: This document instructs attending This document instructs attending physicians regarding the ending of your life if physicians regarding the ending of your life if you are irreversibly terminal or brain-dead. you are irreversibly terminal or brain-dead. Choices in levels of care are provided. It Choices in levels of care are provided. It allows the doctor to withdraw life support.allows the doctor to withdraw life support.

Additional Documents…Additional Documents…• Durable Power of Attorney for Health Care:Durable Power of Attorney for Health Care: This This document allows you to appoint a person to make document allows you to appoint a person to make health care decisions for you when you are health care decisions for you when you are incapacitated and unable to make those decisions incapacitated and unable to make those decisions for yourself.for yourself.

• Burial Instructions:Burial Instructions: This document allows you to This document allows you to determine and record your decisions regarding your determine and record your decisions regarding your burial.burial.

• Instructions Regarding Donation of Anatomical Instructions Regarding Donation of Anatomical Gifts:Gifts: This document allows you to give permission This document allows you to give permission and specify details regarding the donation of and specify details regarding the donation of vital organs or your entire body.vital organs or your entire body.

• Settlor Trustee Instructions:Settlor Trustee Instructions: This section This section contains complete instructions for the settlement contains complete instructions for the settlement of your estate. Your appointed successor trustees of your estate. Your appointed successor trustees can successfully close your estate by following can successfully close your estate by following these instructionsthese instructions

Additional Documents…Additional Documents…• Essential Documents Location:Essential Documents Location: This set of This set of documents allows you to record details of your documents allows you to record details of your life and location of important papers as well as life and location of important papers as well as key advisors you depended on such as your key advisors you depended on such as your priest, pastor, attorney, or accountant.priest, pastor, attorney, or accountant.

• Last Instructions To Your Family:Last Instructions To Your Family: This section This section allows you to write a final private allows you to write a final private communication to your family and hold it in communication to your family and hold it in confidence until your death.confidence until your death.

• Appointment of Guardian for Minors:Appointment of Guardian for Minors: This This document allows you to assign a legal guardian document allows you to assign a legal guardian for your minor children or disabled adult for your minor children or disabled adult dependent children.dependent children.

• Appointment of Conservator:Appointment of Conservator: This document allows This document allows you to assign a “Conservator of the Person” for you to assign a “Conservator of the Person” for yourself in the event you become permanently yourself in the event you become permanently incapacitated through illness, accident, or old incapacitated through illness, accident, or old age, avoiding a court-appointed Conservatorship.age, avoiding a court-appointed Conservatorship.

Additional Documents…Additional Documents…

• Separate Property Agreements (A-B Trust Separate Property Agreements (A-B Trust Only):Only): These documents allow you to legally These documents allow you to legally define separate property between spouses, define separate property between spouses, especially in community-property states.especially in community-property states.

• That completes the documents in an A-B That completes the documents in an A-B Living Trust for a married couple. Every Living Trust for a married couple. Every conceivable need is covered by the conceivable need is covered by the appropriate trust document included in the appropriate trust document included in the Heritage Living Trust. All of these Heritage Living Trust. All of these documents are covered by the Heritage documents are covered by the Heritage Living Trust Guarantee. Living Trust Guarantee.

If You Have Children By a If You Have Children By a Former Marriage…Former Marriage…

•People divorce and have children in People divorce and have children in more than one marriage these days. more than one marriage these days. When that happens the Heritage Living When that happens the Heritage Living Trust protects your right to leave Trust protects your right to leave your share of your current estate to your share of your current estate to your children from a former marriage your children from a former marriage if you wish.if you wish.

•In the Heritage Living Trust you and In the Heritage Living Trust you and your current spouse may express and your current spouse may express and protect your individual wishes protect your individual wishes regarding your children with a former regarding your children with a former spouse.spouse.

The Heritage GuaranteeThe Heritage Guarantee

• Every Heritage Living Trust is guaranteed Every Heritage Living Trust is guaranteed to be 100% correct for legal accuracy or to be 100% correct for legal accuracy or your money back.your money back.

• Every Heritage Living Trust is guaranteed Every Heritage Living Trust is guaranteed to be delivered to you within 30 days.to be delivered to you within 30 days.

• Every Heritage Living Trust is guaranteed Every Heritage Living Trust is guaranteed to include free help and support over our to include free help and support over our 800 lines or email for the life of the 800 lines or email for the life of the Trust.Trust.

• Every Heritage Living Trust is guaranteed Every Heritage Living Trust is guaranteed to include free changesto include free changes in the Trust for in the Trust for the lifetime of the Trust.the lifetime of the Trust.

How To Do A Heritage How To Do A Heritage Living Trust?Living Trust?• The process is very simple. Speak to the The process is very simple. Speak to the professional who introduced you to the professional who introduced you to the Heritage Living Trust or call Heritage Heritage Living Trust or call Heritage Living Trust directly at 888-437-8778 toll Living Trust directly at 888-437-8778 toll free.free.

• Make sure all your questions are answered. Make sure all your questions are answered. • Fill out the application with your Fill out the application with your professional or we will take your professional or we will take your application by telephone at 888-437-8778 application by telephone at 888-437-8778 toll free.toll free.

• Discuss your preferred method of payment Discuss your preferred method of payment with your professional or call Heritage at with your professional or call Heritage at 888-437-8778. 888-437-8778.

• Mail your application and payment and Mail your application and payment and expect your trust back in about 4 weeks by expect your trust back in about 4 weeks by UPS with full instructions on how to UPS with full instructions on how to activate your Living Trust.activate your Living Trust.

The Rest Is Up To You…The Rest Is Up To You…

You can procrastinate and wait until You can procrastinate and wait until its too late and let the State settle its too late and let the State settle your estate in Probate Court…or you your estate in Probate Court…or you can do the wise thing and take care of can do the wise thing and take care of your family while you have the time your family while you have the time and presence of mind to do so. The and presence of mind to do so. The Heritage Living Trust is the finest Heritage Living Trust is the finest Living Trust available.Living Trust available. Take the Take the necessary steps now to make sure that necessary steps now to make sure that your family receives all your estate your family receives all your estate and not the Probate attorneys and and not the Probate attorneys and courts.courts.

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since 1990since 1990

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