Revocable living trusts
A Revocable Living Trust is a popular estate planning tool that is most commonly used to avoid having to go through the probate process to pass on assets. A Revocable Living Trust is known as such because they are revocable and able to be changed while the person is still living and do not become irrevocable until the person passes on.
In addition to avoiding probate, Revocable Living Trusts also have the advantage of preserving assets well past the time a person dies. Bequests and transfers of property made to beneficiaries under the Revocable Living Trust can also have numerous and complicated restrictions attached to them, a feature that is generally not available when transfers of property are done under a will.
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Gun Trusts are trusts that are specifically designed to hold ownership of firearms. These types of trusts are used for firearms that are subject to federal and state regulations. Gun trusts make it easier to handle firearms after the owner's death and prevents surviving family members from inadvertently violating state or federal law once the guns are passed onto them.
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Pets are a part of the family. As such, most people want to make 100% sure that when they pass on that their furry, feathery or scaly family members are taken care of just as much as any other human member of the family. Pet Trusts are the way to do that.
Pet Trusts are an answer to a growing legal problem. Traditional wills only allow for ownership of a pet to be transferred after a person dies. Restrictions for the care, maintenance and well-being of a pet cannot be dictated under a will and are not binding on whomever receives the pet after you pass.
With a Pet Trust, pet owners can be assured that their animals will be taken care of after they pass by leaving money and other assets to the Pet Trust on behalf of the pets. Essentially, the pets are the beneficiary of the Pet Trust. Restrictions and directions may be left regarding your pets' food, medical care and living arrangements.
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