The Advantages Of Living Wills And Living Trusts

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The Advantages Of Living Wills As well as Living Trusts

Planning for the near future basically involves several benefits. For one, it prepares you and your family for the inevitable. Aside from that, this allows you to formulate your own decisions level-headedly.

Then again, it is not unlikely for the task to become too psychologically charged at times, rendering it all the more fitting to get it done with a sound brain. But before you proceed with putting points in order ahead of time, it could certainly be a good idea to know the advantages of living wills as well as living trusts.

Living Wills

A full time income will contains directions concerning your health care preferences in monochrome. Your immediate members of the family, as well as your health care provider, will refer to these directives if you are incapable of making or indicating your decisions about medical treatment. Anyone who has reached the legal ages of 18 or Nineteen, in certain states might draw up his or her own living will, provided that they’re also of seem mind.

The biggest advantage of making a living will is it allows you to voice out of the preferences on the subject of lifestyle support measures and other medical treatment options. Despite the fact that your family and friends may not contain the same philosophy concerning the matter, the creation of this type of legal document offers you an opportunity to confer with them and explain your choices.

You also get the chance to justify how your morals and ideals influenced your choices. This furnishes them with a better insight into what you should ultimately want to come about in such difficult scenarios.

Without a living will certainly, your immediate family members could face the potential of paying large medical center bills. Aside from that, your own savings account could also be used up to the point of bankruptcy.

So, in a way, the creation of a living will makes it possible for you to protect your family from the extra burden of searching for financial resources to pay for the hospital confinement and treatment provided that the chances of dealing with your condition are very trim.

On top of the monetary encumbrance, living wills also take away the likelihood of disagreements when attemping to reach a comprehensive agreement about your treatment. So instead of combating each other to determine what’s best for you, your family can concentrate more on accepting the inevitability of passing away.

Living Trusts

A living have confidence in is a legally presenting arrangement that areas all your assets in the trust. More often than not, the particular grantor or creator additionally serves as the trustee. Even though, you may also appoint someone else or institution to act as one in case you weary in the duty or become incapacitated to meet your obligations.

Talking about its advantages, a full time income trust allows you to handle your properties for the purpose of generating profits to your beneficiaries. In addition, commemorate it possible for one to conserve or care for your assets’ growth.

An additional obvious advantages of residing trusts are the probability of reducing estate taxes and also controlling the administration or perhaps use of the assets long afterwards the grantor has left from the world of the actual living. These lawful documents also offer safety for the beneficiaries towards creditors.

The advantages of residing wills and living trusts are indeed numerous. So just before its too late, protect yourself and your family from the harsh reality from the inevitable and from the fact that things might turn out real bad without proper planning.

Comments: 66

  1. Ned April 6, 2013 at 4:21 pm Reply

    I sold and financed a home in NC. The buyers never made a payment on time; I had to pay their property taxes and on multiple occasions, I had to pay their homeowner’s insurance because I received cancellation notices. I repeatedly tried to set up payment plans, I offered to help them sell the house, and I offered to forgive their debt and buy the house back. They maintain that they want to keep the house, but the don’t make their payments, which are only $500/month.

    After a year of this, I asked my lawyer to contact them on my behalf, thinking that may “scare” them into paying. They responded by filing for ch 13 bankruptcy. We’re currently waiting for a plan to be approved.

    I noticed the $2000 water softener from the house is currently for sale on Craigslist for $400. I contacted my attorney, he contacted their attorney, and he promised to “put an end to that.” I also alerted the bankruptcy court. My concern is that they will strip the house and I’m wondering if I can insure against this. I understand there is a “force placed” type of insurance that I can obtain, but I don’t know if it covers intentional vandalism/stripping.

    The Deed of Trust requires them to maintain insurance or I can purchase it and charge them for it. Thus far, I’ve just been calling their Nationwide agent with my credit card on the cancellation date and making the payment. This is for general homeowner’s insurance in their name, but I’m the payee, since I hold the mortgage. But I don’t know if this would cover damage done by them – or if it could be cancelled by them prior to my taking possession, assuming this comes to foreclosure, which I believe it will.

    I’m not some big bank that’s out to take advantage of people. It took me 3 years to remodel this house because I had to do much of the work myself and save for that which I had to hire. The house was beautiful and even had a granite kitchen. It’s much nicer than my own home. I sold it because I thought the $500/month (was supposed to increase to $600 this year) would help me cover my living expenses. But now I’m afraid the value will be lost due to their deliberate actions. I know I could sue them, but I don’t think I’d ever recover anything.

    I know someone who saw the house before I sold it (in 2011) and she still wants to buy it. At the time, she was willing to pay the same price they paid ($88k). I contacted my attorney and told him I had a buyer if they’d be willing to sell. Their attorney responded by saying they’d consider it only if they received AT LEAST the amount they paid. I’m fairly certain it’s no longer in the pristine condition it was when I sold it, so this is doubtful. The only time I’ve been to the house since I sold it, it was full of dogs they were breeding.

    Also, they listed the value as $65k on the bankruptcy papers, citing water leaks and mold in the basement – neither of which were problems when I sold it. So I don’t see how they can tell the court it’s worth only $65k and refuse to sell it for less than $88k. They currently owe me $70k (they put $19k down, which was why I felt safe financing it).

    Again, I’m not trying to take advantage of anyone and I will still work with them if they will pay for it, but my income is only $800/month right now and I need their payment to cover my bills.

    So, I’m just wondering if there’s anything I can do to protect the value of the house. Can I continue to pay the homeowner’s insurance that’s in their name? And if so, will that cover damage they do (even if I can’t prove they did it)? Or is there another type of “forced” policy I can obtain?

    Thank you for your time.
    Casey,

    Thank you for your reply. Please let me make it abundantly clear that I had no intention of insulting banks. On the contrary, I fully understand their business model and I’m disgusted by the new lows to which much of humanity has sunk in trying to circumvent a bank’s legitimate business. I’ve read horror stories of what people have done to houses when foreclosed upon and it disgusts me. They find a house they want, agree to a price, and then approach a lender to finance it, promising to pay them back. The lender agrees and then they hold it against the lender when they expect to be paid? It’s insane and I understand that.

    I can understand how my statement could have been construed as an insult and for that I apologize. I only stated the conditions because it seems that on message boards, 90% of the people blame the big, ugly bank for holding them to their word. And virtually every source of information I’ve found on the internet regarding foreclosure seems
    to assume the lender is some institution with deep pockets. I wanted to make the point that’s not always the case.

    My attorney tried to foreclose, but the ch 13 bankruptcy protects them. The court has not yet approved a plan (it’s been 3 months). Once they do, creditors have 28 days to object. It can drag on for months. It’s now been 6 months since they’ve paid their mortgage and legally, I can’t even write them a letter.

    I called the insurance company today and the agent said that I can’t insure it through them because my name isn’t on the deed. I can continue to pay their insurance, but they can cancel it anytime and it would be effective immediately. I explained that I needed to maintain continuous coverage and asked if there was a way to do that. He said I couldn’t get it through them because they go by the name on the deed. I asked about the force placed insurance and he didn’t know where I could obtain it or what it would cover.

    Thanks agai

  2. Latosha May 2, 2013 at 1:39 pm Reply

    I recently got a ticket for failure to stop at a stop sign, I don’t know for sure but I’m guessing it’s gonna be two points on my license. I have already paid the ticket, I live in georgia, I’m 17, my insurance provider is state farm, I am currently paying $78 a month for only liability, I have no other tickets, but I did get a written warning for 21mph over. Will this warning count as any points or be recorded on my record? Roughly how much do you think my ticket will raise my insurance a month? thank you

  3. King May 8, 2013 at 9:14 am Reply

    How do they live with themselves “knowing” that a scared,confused girl not getting familial support wants to raise her child but is Just worried about how she’s going to support the baby?

    How can they spend day after day working a girl over for her baby “knowing” that she loves the fetus growing inside her and belongs with her?

    How is it legal in the US that they can get away with taking advantage of her especially if she’s a minor?

  4. Tonie June 27, 2013 at 1:00 am Reply

    We are looking into getting a Living Trust, does anyone know if there is a good or bad choice and prices?

  5. Kimiko July 4, 2013 at 6:48 am Reply

    I need 4 new tires for my 2000 Infiniti G20 ASAP. So obviously this is a 2 part question.

    First, what brands/models of tires are a good value? I do not need high end, racing, or performance tires, but I do want quality tires that will survive normal city/highway driving. (I average around 16000 miles annually if that makes any diference)

    Secondly, where is a good place to buy tires? I usually end up at places like Goodyear or Sears, simply because I recognize the brand name and trust them more than the hole-in-the-wall local shops. But I also feel like these brand-name stores are most likely to take advantage of my ignorance. Is there any particular big name store that truly provides good customer service and good value? I am willing to go to an independent shop if the recommendations are strong. I live in Los Feliz, CA, so I can go anywhere in the San Fernando Valley or LA.

    Thanks for your help and input!

  6. Tiffanie July 7, 2013 at 10:07 pm Reply

    I’m 19 years old and live in Los Angeles. I have no acting experience though, is that be a problem?

  7. Mira July 13, 2013 at 5:11 pm Reply

    I used a CD from a book to make my living trust. After it was done, I went out to have it notarized by a Notary Public. Is this legal enough, or do I have to go to a Municipal Hall to have it registered? I live in the state of California

  8. Valentin July 20, 2013 at 7:28 pm Reply

    I am in the middle of drafting a living trust and need to include a section for pet care provision for my furry family members. Where can I find some sample documents to use as templates or guide?

  9. Luis July 20, 2013 at 7:57 pm Reply

    Hi..I have my house in a living trust. I have a chance to do a refi but the house can’t be in a living trust. Someone said I should be able to do the paperwork to remove the house from the trust, do the refi for the lower interest and then put the house back in the trust without having to pay the large attorney fees. Sooooo does anyone know what forms I would have to fill out and is it easy? Thanks.

  10. Chris September 1, 2013 at 9:52 am Reply

    In the modern world, it appears to be more and more difficult to actually trust anyone; either to do something for you, to do a reasonable job or when leaving someone or something of yours to be taken care of.

    If possible, I now just rely on family or close relatives.

    What does God say about trusting others so oneself doesn’t get ripped off, let down etc.

    Those of all faiths welcome to comment by the way so as to get some varying viewpoints.

    (Cynical) John

  11. Cheree September 3, 2013 at 6:56 am Reply

    We’ve had a lot of dogs in my family. We’re about to get a new one. We’ve never been able to train our dog to walk without a lead, mainly because we’ve never trusted the dog to stay with us, so we haven’t had the courage to walk wihtout one. How do people generally train dogs to walk obediently?

  12. Shelba September 9, 2013 at 2:51 pm Reply

    Am not sure if this is true in California, but on Aug 26, 2007 issue of the LA Times (page K12) Book review, author Karen Ann Roicik points this out according to the review. I’ve been reading a few articles on living trusts but, never came accross this info.

  13. Coy September 15, 2013 at 12:38 pm Reply

    I have a co-op in a living trust. I also have a co-trustee.
    I have some major repairs coming up and am worried the co-trustee will not let me encumber the property for a loan for the repairs. this will not only cause problems for me but the homeowners assoc. as well. Of course I will consult with
    a good probate lawyer if necessary.
    The trust is standard and allows for loans for repairs etc.
    I put this question in wrong catagory..should be in legal.

  14. Jesse September 25, 2013 at 5:38 pm Reply

    I live in a small town in Missouri ,near the lake, and I want to become a young actor. I’m 15 years old and everyone says my acting is superb. I just don’t know were to start. Can some one give me tips and answers?

  15. Tarsha October 2, 2013 at 8:34 am Reply

    I feel really passionate about acting, plus I live in Los Angeles so its just time for me to get started! How can I get my start?

  16. Scotty October 4, 2013 at 6:28 pm Reply

    The living trust would be in California and would include only real property.

  17. Rocky November 8, 2013 at 3:29 pm Reply

    Can a beneficiary of a living trust deduct property taxes he paid for a house that’s the subject asset of the trust?

  18. Gayle November 17, 2013 at 4:52 am Reply

    Many people tell me that u get what u pay for. They also tell me u live in a small room infested with rats & roaches, as a result of them being cheap, & that it’s a scam. Is this true? I’m moving there before the end of this month.

    Please give me phone #’s and adresses of some legitimate places to live in the 5 boroughs area. All help is appreciated. Thanks. Also, tell me your personal experience with renting a room in NYC.

  19. Carlotta December 9, 2013 at 5:11 am Reply

    What are the costs to unwind a living trust in the state of California using an estate planning attorney? Is the cost a percentage of the estate? Do they work on an hourly basis? Any other costs? Thanks!

  20. Lucia December 9, 2013 at 6:34 am Reply

    Is there a website or someplace where I can search for local lawyers who specialize in estate planning? I would like to have a living trust put together but don’t know where to start!

    How do I know I’ve found a reputable and honest lawyer?

  21. Rosaline December 11, 2013 at 2:29 am Reply

    I will live in a flat with room share and i would like to know from people that have experiencie in this matter , how it will be?if i will have my liberty preserved and i can leave and out at any time i want without causing any disturbs?

  22. Nathanael December 23, 2013 at 3:42 am Reply

    I live in a part of Australia with no mobile reception, but I’ve heard a lot about the iPhone and all the different apps you can get – they sound great and I’m keen to get one just as an organisational tool! But will I be able to use the apps without mobile/internet access?

  23. Rosenda December 24, 2013 at 3:03 am Reply

    Everyone I have been dealing with in business has been letting me down in so many ways that I just want to disappear. I am constantly sorry dealing with people after losing my money, energy and time. I am losing with each and every single one of them. I am constantly making mistakes with the people I choose to trust and work with. I give more respect to these people than I give to myself and then they spit on me or rudely ignore me and take the money and literally run. I have robed myself of too much all the time and I know better but I give people the benefit of the doubt anyway. How can I change and what can I do to stop being so nice to people who don’t care about me.

    People know that I am not rich because I constantly tell them but still treat them to small things – so whey do they choose to rip off a nice person?

  24. Frederic January 9, 2014 at 8:26 pm Reply

    I hope for the best but life has taught me to expect the worst, but i hate being on guard looking at everyone like there a plotting ferengi from star trek, but when i start living life in a way a person whi believes people a generally good, i get fuc$ed. In physiology its condidered mentally ill to see people as generally bad but from the homeless all the way to the u.n. people are all the same it feels like. How can i just get over feeling guilty about thinking this. I cant afford not to anymore.

  25. Wilford February 9, 2014 at 3:43 pm Reply

    Because of a few odd and manipulative events, I no longer feel at peace going to a small church I was going to for years. My only friends were there, we were encouraged to only date within the group. Alot of the members were already family because of marrying into it. And there was always this strong sense of pressure to say and do what they were all doing. A couple of them I’ve known before they were the way they are, and before I joined them and left. I think deep down they’d understand but are afraid they too will be condemned and go to hell…Or maybe I’m wrong. Anyway, I have always tried to follow the good word, but in my heart I feel like Im doing it for them, and not for God. The God I know and trust and believe in, made me this way, loves me and knows there is no better or safer place. I’ve been with my boyfriend for a year. Hes my best friend and I can be myself with him. He takes very good care of me, and encourages me in every way to be a better person, as well as making it easy to accept who I am. I haven’t told the two friends I have left from that church, for fear of losing them, and for fear of them convincing me Im going to hell. Its a very delicate issue, and am asing for advice to go about telling them, because lying isnt who I want to be. How do I tell them? What do I say?

  26. Bettina February 10, 2014 at 1:21 am Reply

    I mean hermits and all..how come they survive….[asking it because of being a virgin all this time] ??

  27. Rick February 12, 2014 at 1:19 am Reply

    Well ive been shy my whole entire life,not because ive been abused or am a problem child.its because i havent learned good social skills,the way i see it in a converstion with someone is that i rather not say anything to not offend the person.i know i have offended people before with sentences.i dont like offending people i think it will give me a bad rep.someone give me advice and i wanna know the advantages and disadvantages of being shy…*no negative answers from pathetic people*

  28. Vince February 20, 2014 at 9:25 pm Reply

    i have a debate due next week, and the subject is based on this statement ” Ignorance is Bliss, and Knowledge is Curse”
    i’m favoring this topic and i need to know the advantages.
    so what are the ADVANTAGES.

  29. Thomasena February 20, 2014 at 10:17 pm Reply

    (BEFORE READING THIS, IT’S MORE LIKE WANT TO EXPRESS MY VIEWS AND SEE GENERALLY WHAT SOMEONE SAYS , BUT NOT A QUESTION, SO DON’T WASTE YOUR TIME IF YOU DON’T WANT.)
    and I am just a happy guy.I can’t anymore.No I will not suicide but I’ll just can’t live.
    Reasons:
    1)I had never friends that have been friends for years
    2)I never had social accept
    3)My parents love my sister more than me after the age of 7.
    4)I like to play to even study to do things and yet I don’t like my social at all.They just ”cut my wings”.
    5)Let’s see….just can’t keep going,,,,I don’t have anything to do else in my life.I am going sport but my life is just how I describe it.I would go a music organ but it’s not my goal.But in the end…..so what.The only thing is to, study ,and study is complex thing in my country.to move and go to another place raise the children I want
    6)It’s not my ultimate problem, but I just can’t even talk to girls, even cause I don’t know any and I am shy enough.So no boys no girls I am just,,,,,,Alone???Yes.

    Some things I do:I am going with my parents to a monastery.Break dance, parkour(I did, now I don’t want to go outside in this cold society), mma.Study.Outside(with friend’s of my parent, since I don’t want to meet any guy that gonna torture me…..In my country ,even friends do this for fun ,like other countries but I never liked it.)
    The worst thing in my life that happened ,were to go to school full of bullies…….
    I like writing (not stories, generally)
    But who cares, I always were a different guy, loving my enemy as religion says(but not cause of religion)…..How can they not gonna take advantage of me????
    What I want to do in my life.Have 3+ kids, and (I am forced to take a woman :P), always improve myself.Give something to humanity.Even a little +, help people…..and I don’t know, have fun with my life.
    I can’t survive here.I guess I have to go outside once a month or half month and ,going only to a good school.
    The funny thing is, I posted this type of question many times and I don’t know ,why I want to tell my problems every time…..I am going to a therapist, but I think it’s waste of time……
    I see animes and search many things on internet.Read books and all interesting things.
    about some little .not dreams of course, but goals:
    have 2000 euros in a month. and a house with a good yard to play with anyone.
    What’s the point of telling you this?The point is ,even by doing what I want and like, I always just can do nothing……
    Now the only thing I’ll try to do and if I fail,nothing else remains(almost),
    1)Study
    2)Find a good girl
    3)Train a little
    4)Do some domestic jobs and other things, also take care of myself(whatever, take baths ,wash teeth(more times)),Help my family.
    5)Read books and little hobbies, and I am done
    but of course 6)Try to be a good person.,,,,,
    anyway write anything you want ,if you have, expect have pity on me if you have or be cheeky like my social.
    If they only could see better who I am….. I just can’t keep living.

  30. Wilber February 20, 2014 at 10:18 pm Reply

    A living trust seems to be much more expensive to create than a will.

  31. Arnoldo February 21, 2014 at 1:43 am Reply

    I was wondering what that actually meant. Please help…It’s by Frank Crane…It’s a famous quote or saying.

  32. Man February 21, 2014 at 1:43 am Reply

    My husband’s grandmother passed away a little over a week ago and she had a living trust that had her oldest son as the beneficiary of 50% of it and my husband and his two sisters as the beneficiaries of the other 50% (their dad passed away 6 years ago, so this is his half). We are still waiting to hear anything back on the trust and don’t know what we are supposed to do. Are we supposed to just sit and wait until we hear from his uncle? She lived over 500 miles away so it is difficult to find much out. We do know that part of the trust is the house and they have been going through the house and dividing stuff out but shouldn’t they be doing that with the consent of my husband and his sisters?

  33. Pedro February 21, 2014 at 2:31 am Reply

    I was wondering what it would be like to live in hong kong. I am currently in college and I am not sure when I will graduate. If I do graduate can I use my degree in hong kong? I am going for nuclear medicine technology. I am chinese but I cant really speak it that well. Like I understand most of it but there are some that are difficult to understand.

    Also can I live there for like 6 months? Do they have half a yr’s lease or does it have to be a full year? If I don’t have a degree how can I get a job that pays well? I know living in hk is expensive but I always wanted to go there.

    Would I be able to get a nice lil apartment like in the movies? NOt the old beat up ones that are scary and dark in the hallways but rather a nice lil decent apartment.

    any more information would be great.

  34. Rocky February 21, 2014 at 6:47 am Reply

    I will try to make this question short,

    I am a Latino college student who will graduate this year with a Bachelor degree. For the entire time that I’ve lived in my college town (5 years), I have lived alone off-campus at an apartment, and my rent was $710/month.

    I originally planned on going abroad to teach English in Europe (particularly Spain or France) this September for the next few years, however, I realized that I’ve not made any significant effort into preparing myself for that next challenge (I am quite busy quite often), and so a friend of mine suggested that I stay here, work, save money and move in with her to cut down the cost of rent ($335 compared to the $710 I was paying originally). My problem is making my parents feel comfortable about the decision. They got me the one-bedroom apartment when I first moved here because they felt uncomfortable with me living with a flatmate, much less a female one.

    My friend is an international student from Spain, and we have always gotten along quite well. We are thinking we would be compatible as flatmates, as we both have similar living styles and we tend to be tidy, and we are in the same social group. We speak the same languages (English, Spanish and French), and we are not the types to go to nightclubs and/or get very drunk. However, I am concerned about how this will go, since we’re male and female. This would be my first time living with anybody, so I am curious to know what challenges lie ahead.

    However, she is significantly older than me (she’s 30 years old and I’m 22), and is in a long-distance relationship with someone back in her country. I feel like I am old enough to know that this is the best decision for me in the long run (I refuse to move back home), but I feel compelled to get my parents’ permission for this, even though I’ll be getting a full-time job soon to cover the rent on my own for once.

    Should I just call my parents and just discuss them about this straight-up? What other options can I consider? Thanks.

  35. Gregory February 21, 2014 at 7:04 am Reply

    I am confused by the two, even after lots of website visits online about the two. Do people create a revocable living trust when they’re alive, and all of them become irrevocable after they die? Can you create an irrevocable living trust when you’re alive? Can you have a revocable living trust after you’re deceased? I’m confused!

    My grandmother died about seven months ago here in the State of California with a revocable living trust, so is her’s now an irrevocable living trust?

  36. Virgil February 21, 2014 at 4:55 pm Reply

    My husband has applied for a job there and we would like to know what the day to day living is like especially for a british woman. At this moment in time I am unsure whether to go with him if he is offered the job. Many thanks.

  37. Sol February 21, 2014 at 10:35 pm Reply

    Hello!

    I am using the Quicken WillMaker program to make my last will and revocable living trust (and living will?). Once I have written it, what are the next steps I take to make these legal? Do I have to hire an attorney?

    Advise, please!

  38. Mohammed February 21, 2014 at 10:35 pm Reply

    An irrevocable living trust was made about 15 years ago. The descendant is close to the final hours. In her past 3 years of life she made a new will which states that everything she owns be given to her son who was only stated to receive a small portion in the trust (10%). The beneficiary (step-child) is not included in the new will. The sons name was put on all accounts as joint tenant as well as all of her property (houses, cars, etc.) However, the living trust still exists.

    My question is what do you think the step children (who’s father was the one who created the trust and has since passed) will be able to get? Their names are only in the living trust, no longer in the will and the will gives everything to the son who was slated only a small portion in the trust.

    Does the trust override a will in this case when someone has joint tenancy on everything?

  39. Lorie February 22, 2014 at 2:57 am Reply

    …where all income is payable annually to the person who set up the trust, and she retains the power to revoke during her lifetime?

  40. Terrell February 22, 2014 at 2:57 am Reply

    Should the person, if possible, just go to the country where the recipient of the fund are (e.g. Canada), and make one at a bank there? Or should they make one in the States, and worry about getting it to the recipients when the time comes? In this particular case it would be easier for the person creating the trust to create it in the States using an American bank! LOL

  41. Cortney February 22, 2014 at 3:36 am Reply

    I know wills can be very complicated and take a while to process and such.. but what is simpler? Whats the most beneficial when giving your things to someone after death?

  42. Clotilde February 22, 2014 at 3:54 am Reply

    I am only 51 and didn’t have the ability to save for retirement but I am for the first time in my life able to do this & find I am resistant. I am trying to figure out what I am afraid of and I know nothing about it. I don’t know how much to save or how much is needed. Any wisdom you can share with me is very appreciated. I am also wondering what happens to people who don’t save? What happens to people who do? I know this might be a strange question but people in my family have not either not lived very long or they never talked about these things.
    NanaT- You are NOT a moron!!! You did very important work in your life. With your faith all things are possible. I also spent my life helping others & ignoring my own needs. Now everything has changed. My husband go out & make a lot of money doing what we love. I will be able to save for retirement I just had no clue or vision about it. Thanks to help of the good people here, I feel they gave me some In-sight into this & I know if I need help I can e-mail ones w/that or post other questions. You are so young. I see by your bio you are still very busy focusing on others but maybe one of those others will grow up & be able to give back to you. There are so many ways good things can happen. You are a genius.
    THANK YOU ALL! great answers I don’t know if I can pick a best one cause there is so much great info. here.

  43. Will February 22, 2014 at 8:11 am Reply

    why should a person get one?
    How much does it cost?
    What does it protect against?
    Feel free to add other relevant pieces of info
    thanks

  44. Virgil March 4, 2014 at 4:30 am Reply

    I’m a 17 year old female. I’ve been suffering with depression for about 4 years. I’ve been on depression meds I have a therapist and it still seems to control my life. This past year it had gotten worst with two failed overdose attempts i ended up in an impatient facility twice in about a month. I started cutting and drinking to soothe my pain. I also started putting my trust in guys who took advantage of my weakness, sex made me feel as though they loved me. This has been behind me for about two months. A boyfriend i really thought i loved broke up with me last night. I find myself sinking back into my depression, I’m so tempted to either cut or find some pills to od on. Plz help I can’t keep going on like this. Please don’t say find god. I go to church and I prey on this everyday.

  45. Bennie March 9, 2014 at 6:53 pm Reply

    with these wrong politicians and hierarchy system will my country get developed

  46. Allen March 9, 2014 at 6:53 pm Reply

    I’m not looking for free legal advice, I’m actually trying to get AWAY from the legalese enough to understand the benefit of creating a trust.

    I know there are different types – but I’m just aiming for basics. As I understand it, a trust just helps you avoid the probate process, so your assets are distributed faster and are private since there won’t be a court record. It’s for considerably less than $1,000,000 so I’m not concerned with estate taxes. Is there any other significant benefit I’m missing, or am I incorrect in my understanding?
    HillClimber – I really don’t think that I should have to pay legal fees just to ask, “what does it do?” Once I figure out what it does, I can see paying an attorney to answer “how will it help me?” but for now, I just wanted a short understanding.

  47. Angelo March 9, 2014 at 6:54 pm Reply

    Need to know what it entails. If I put my house in an irrevocable living trust can I still claim mortgage and real estate taxes on my federal income tax?

  48. Willy March 9, 2014 at 6:54 pm Reply

    I am going to have my 2nd daughter in about 8 weeks and I need to know what is the difference between a living will and a living trust-I want to make sure my daughters are taken care of if-god forbid-anything happens to my husband and myself.
    yahoo answers put my question here, i didn’t know what category to put it in-so all you people yelling at me for having it in here-stop!!!

  49. Nickolas March 9, 2014 at 6:54 pm Reply

    In almost every college thing that is sent to me, the university advertises that living on campus is only around 1000$ more per year. Is that true? I would think they advertise it that way because schools often charge more for campus housing than they do for tuition. I know living on campus is convenient but you get kicked out over summer and on long breaks. I think i would rather live in an apartment with roommates off campus so i can stay when kids are getting kicked out of their dorms and not have to deal with moving out so much. How much do you think it would cost to live off campus but within one mile of school? obviously areas differ so i mean in comparison to on campus living which seems to be 9000-12000$ per year. What was your situation in college and how much did living expenses cost you?

  50. Lucius March 9, 2014 at 6:55 pm Reply

    Should I pay for a lawyer or go for one of those software trust kits? Also, can you please outline main advantages that trusts have over wills?

  51. Karie March 9, 2014 at 6:55 pm Reply

    My mother has Alzheimer’s disease and has asked our dad and myself to start taking her name off of the family’s properties and bank accounts. Can I simply ask the county to replace her name on the property’s title with my name? Or will I have to create a living trust? We are doing this in case she passes away and don’t want to pay a huge inheritance tax.

  52. Shaun March 10, 2014 at 10:14 pm Reply

    The obvious is to see a solicitor, but is there a way to do this without involving an attorney? The costs are prohibitively expensive. We just want to to know that our sons will be taken care of if, touch wood, anything should happen to my hubby and I.
    Many thanks in advance!

  53. Jimmie March 11, 2014 at 3:08 pm Reply

    .. and obviously they show their true colours but then again it takes me ages to realise that I was being taken for granted or used.

    I feel I am not smart enough for the world. But then I do not want to live my whole life in fear and would like to know that there are people who can be trusted.

    Can you please provide me tips on how to be smart to survive in this world?

  54. Dominica March 14, 2014 at 11:32 pm Reply

    Whats a living trust, the advantages, disadvantages of having one and can someone from another country open one here in the U.S.A and become a settler for the U.S living freely amongst us like a resident?

  55. Dannie March 14, 2014 at 11:32 pm Reply

    what is it and what are it’s benefits.

  56. Jacque March 14, 2014 at 11:32 pm Reply

    I am confused by the two, even after lots of website visits online about the two. Do people create a revocable living trust when they’re alive, and all of them become irrevocable after they die? Can you create an irrevocable living trust when you’re alive? Can you have a revocable living trust after you’re deceased? I’m confused!

    My grandmother died about seven months ago here in the State of California with a revocable living trust, so is her’s now an irrevocable living trust?

  57. Marguerite March 16, 2014 at 6:05 pm Reply

    I want to create a living trust, however I am confused as to do my husband and I have to do individual ones or can both of our names be the “grantors” on one trust?

  58. Ryan March 16, 2014 at 6:05 pm Reply

    I have lived a vary bad life (but i dont regret it). Because of this, I dont trust anyone or anything at all or completely, unless if the person is a close freind. There are some advantages and disadvantages, i never get hurt too often,but when I do get hurt, I shut that person out entirely (and theres nothing that person can do to regain my trust). is it o.k. to live this kind of lifestyle of mistrust, or is it an unhealthy illusion?

  59. Candelaria March 17, 2014 at 10:03 am Reply

    these are stock certificates from a mexico business

  60. Lillie March 25, 2014 at 4:58 pm Reply

    In NY State does anyone know the average cost of a living trust? I have one son. I have a will that states that everything goes to him upon my death. Do I need a living trust with only one child/person being named as beneficiary? I don’t want my son to have to go through probate and have to pay large amounts of money for the lawyers. What is involved in a Living Trust. I hear it is very time consuming.

  61. Kimiko March 29, 2014 at 11:50 pm Reply

    I made a living trust. they told me it will take several weeks to distribute to my children. what are the exact steps the lawyer will take upon my death? 1. death certificate issued, 2? what paperwork happens after that? what is the next step? what are the steps?
    how many weeks did the process take?

  62. Bud March 30, 2014 at 4:58 pm Reply

    Could somebody explain how it works. I think I need to start thinking about this for my daughter. I don’t have many assetts -a home, retirement fund, IRA, and a little savings. Any help will be appreciated.

  63. Chantelle April 5, 2014 at 2:27 pm Reply

    religion, says what you can or cannot do. says what is a sin and what is not a sin. but why bother? heres what i mean, we all die. we dont have a choice, it will happen no matter what. so why not do life living what you do. shooting heroin having premarital sex having orgys doing whatever pretty much. as long as it doesnt affect another persons right or rights then what buisness is it of yours or “gods”?

    they say stealing is a sin, but how about the children in africa who have to steal from people just to live off an apple a day? is it still a sin to try and live. by him not stealing he would die and effectivley commit suicide which is frowned upon in most religions. so either way hes doing something wrong.

    my point is nobody has the right, and i mean NOBODY has the right to tell you what you can or cant do. not god, the president, king of france, tap dancing king of 08.

    we will all die anyway might as well have fun.
    to the apostle, you dont understand anarchy so why would you comment about it being bad. as history has shown time and time again organized governement doesnt work and will never work. every great civilization has and will fall. anarchy is about power in the peoples hands, not some christian schmuck who tells you dont eat at home eat at mcdonalds or the terrorists win,

    read more about anarchy then maybe you will understand it instead of blindly condemning it
    to C, your beliefs are only a belief. they are not a truth, just a way to take you a step further from reality. im not worrying about what some “white man in the sky says” he doesnt exist so why should i care? too much blind following :[
    but sin doesnt really exist, so your argument is flawed. sin is a man made cocept. oh and to the guy that said we are better than animals, WE ARE ANIMAlS, how are we better. we messed up this planet. the only reason we are better is because of our slightly expanded mind and the thumb.
    my whole point of this is that religion and society puts a cage on your mind and tells you whats right and whats wrong. well there is no right an wrong. do what you want. your god or gods have no right to tell me what is right. even if god was real we would have no moral obligation to bow to him. you dont bow to your parents, so why should god be any different?
    how am i a drain on society for getting high? you dont see me crashing my car into a family strolling along in the street. you dont see me beating my girlfriend after a day at the bar. o wait thats what ALCOHOL does, maybe instead of fighting a harmless drug you get to the real problem with alcohol and cigarettes.

    THOSe ARE THE REAL GATEWAY DRUGS
    they are the real burden to society.

    i find it amazing you honestley think getting high is bad. whats wrong with it if im not hurting or disturbing anyone?.

  64. Debrah April 16, 2014 at 1:13 am Reply

    what is better a will or living trust?
    i am 40=have a house i own jointly
    what items should i put in the will or living trust?
    how can i divide the items in the will evenly amonf three
    children >i would like to leave everything only to my three
    kids>?/

  65. Emerita April 23, 2014 at 11:40 am Reply

    i recently asked a question about looking into sublets but am realizing that is not the way to go.

    -i don’t make a lot of money doing what i do, but right now i live in an apartment with some close, long time friends of mine. Things have gotten extremely frustrating for me though, because i am a neat freak, and these two guys are slobs. i’ve spoken to them about this problem numerous times, and though they do clean up here and there, they’ll eventually stop doing it. i can’t really take it anymore.

    So i am looking into other housing options, and am seeing how cheap studios can be. i know what they are, i’m just looking for opinions from people that have either lived in them, or currently do live in them. Do you like living in it / love living in it?

    -On a side note though i know this plays into how much room i’ll have in the studio-i am single, i have a lot of friends and enjoy gatherings, but it’d just be me living in the studio.

    Thanks a bunch for your answers in advance!

  66. Tesha May 22, 2014 at 6:02 am Reply

    Hi,my grandmother passed on in december of 2010,and my uncle is the executer of this living trust.I know I am in the trust,my grandmother told me everytime we talked,my question is this: After death,what is the timeframe like to distribute assets,weather is be money or property.I have not seen the living trust,nor have I been contacted since the funeral.I am not hoping for an inheritence,or whatever,I just want to make sure that if I am in the trust,I get what she wanted me to have.

    I am somewhat nervous about calling my uncle to ask about the status,mostly because me and him never really got along.I trust him,he is a honest,noble person,so I dont think he would screw me.

    All I am curious about is,am I in the living trust?Can I view it? And in case this is important,the living trust was written in Orange County California,so in case county/state laws are different which I am sure they are.Any help,or guidance on this would be awesome!Thanks!

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