Why a Living Trust?

Introduction

A Forewarning

Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
Chapter 6
Chapter 7
Chapter 8
Chapter 9
Chapter 10
Chapter 11
Chapter 12
Chapter 13
Chapter 14
Chapter 15
Chapter 16
Chapter 17

Why a Living Trusts : A Forewarning Against Alternative Probate Avoidance Techniques & Joint Tenancy

Stay Away From Joint Tenancy & Other “Alternative” Techniques
The existence of alternative probate avoidance methods (besides a Living Trust) often diverts attention and misleads folks down the unwise path of choosing these poor alternatives. To a novice these “poor form techniques” can look very enticing from the outside, but with the right kind of knowledge you discover that it is a mask over something very ugly. Stay away from these insidious and poor techniques – they are a “fool’s errand” and ultimately costly. This includes Joint Tenancy, adding someone to title of an asset, gift deeds of real property to children (or anyone else). The numerous problems with these methodologies will be discussed in Chapter 13 after the presentation on Wills vs. Living Trusts -- but they need to be mentioned now to avoid any distractive potential they pose.

Taxes & Protection Count Too
At this point simply remember that any successful probate avoidance technique needs to also maintain maximum tax advantage as well as maximum protection for you and for those you wish to eventually receive your estate. It is there that Joint Tenancy and alternative probate avoidance techniques typically fail in such hidden, miserable and costly fashion. Assets passed through a Living Trust do not suffer these grave problems. A Living Trust is the only method that will allow you to avoid probate while maintaining maximum tax advantage, flexibility and protection for yourself.

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