What does it cost to pre-plan everything through LawyersDirect?

What does it cost to pre-plan everything through LawyersDirect?

Most of the costs involved are included in your LawyersDirect Legal Plan membership fee. However, normally there are nominal third-party filing fees for each deed to be processed and recorded at the courthouse (out-of-state property may incur minimal third-party legal fees as well as third-party processing and filing fees). We would be happy to discuss […]

Are Living Trusts new?

Are Living Trusts new?

No. Trusts have been used for hundreds of years, especially by the very wealthy because they had astute advisors and attorneys. However, in today’s information age, technology and knowledge have made trusts available to anyone with assets they want to protect. Consequently, it is becoming common for families that have accumulated assets to protect those […]

Is a “Living Will” the same as a “Living Trust”?

Is a “Living Will” the same as a “Living Trust”?

No. A Living Will is a document that lets others know how you feel about being put on life support when in a clearly terminal condition. A Living Trust is a document that holds your assets and allows those assets to be properly managed and administered according to your wishes upon your incapacity or death.

Should I have a lawyer do my Trust?

Should I have a lawyer do my Trust?

Absolutely. In fact, only a lawyer can even determine whether or not you should have a trust. While many people do benefit from having a trust as the cornerstone of their program, not everyone needs one. But, if you do need a trust, it should be prepared by a lawyer who regularly practices trust law, […]

Who can be a Successor Trustee?

Who can be a Successor Trustee?

Successor Trustees can be any adult individual or a Corporate Trustee, such as a bank. Normally, people name their most responsible child as their Successor Trustee to take over when the Trustee (you) and the Co-Trustee (your spouse) are both incapacitated or gone. Most people also name a Second Successor Trustee just in case the […]

What does the Successor Trustee of my Living Trust do?

What does the Successor Trustee of my Living Trust do?

At your physical or mental incapacity, your Successor Trustee immediately steps in and takes over for you by managing and administering your financial affairs. When you recover, you automatically resume control. Upon your death, your Successor Trustee pays your debts and distributes your assets according to your wishes.

If something happens to me, what happens to my Living Trust?

If something happens to me, what happens to my Living Trust?

Normally, you and your spouse are Co-Trustees, so either can act and have instant control if one becomes incapacitated or dies. If something happens to both of you, or if you are the only Trustee, the Successor Trustee you named in your trust document will immediately step in and be in control of everything, not […]