September 21, 2015Click Here to Download the Audio
This week on For Your Benefit, our host, Bob Leins, welcomes Marc Levine, Esquire, with Handler & Levine, LLC to the studio to talk about revocable living trusts. Once upon a time, the average Federal employee wouldn’t think he or she needed a “trust” at all, and certainly not while they were alive. Trusts were for rich folks, SES, or maybe your kids if you died early. Now there is someone, somewhere - on TV, the radio, giving seminars and writing books and articles - telling everyone they need to have a revocable living trust? So, do you?
Join us as we spend an hour talking about revocable living trusts:
- What is a revocable living trust and how is it different from an irrevocable trust or a trust at death (also known as a testamentary trust)?
- What does the revocable living trust do?
- What doesn’t the revocable living trust do?
- I heard the hard part is “funding” the revocable living trust. What does that even mean?
- What goes in the revocable living trust? What doesn’t?
- Does doing a revocable living trust mean I don’t have to pay taxes when I die?
- Does doing a revocable living trust mean I don’t have to pay my creditors when I die (or better yet, while I am alive!).
- How do I know if using a revocable living trust makes sense for me?
- What is a trust mill?
- What is the difference between a “trust mill” and using boilerplate in a revocable living trust?
- Does the revocable living trust travel well?
- What are the most common mistakes in doing a revocable living trust?