Make Your Own Living Trust

I have been frustrated with attorneys lately. They have just not come through for me. I need a living trust and a roll over will for my mom. I started by getting a regular will, but the attorney messed it up - Don't get me wrong, its close and its valid, but it was not written to come out the way my mom told me she wanted it. Of course, the attorney would not talk to anyone but my 90 year old mom - might be undue influence. How hard can this be I thought? So now that I am working on setting up a living trust for her. I tried the Suzy Orman online package and the result was too simple and I was not sure how to modify it for her. Though I am pretty sure it would be valid. I purchased the NOLO Make your own Living Trust Book. I found it very clear and easy to understand. The Suzy Orman package does not provide as much explanation and basically steps you through as series of questions and answers. The NOLO book provides a fair amount of information. One thing I like a lot is that NOLO flags areas where you should not try to do it on your own and need to use an attorney. I liked the downloadable documents they provide with places to put your information. The form did not cover exactly what I wanted to do for distributing property, but I wrote what I wanted. I plan to take what I have to an attorney for review. This book takes all the hocus-pocus out of creating a trust. You get complete set of boiler plates But it does not cover all circumstances. I now feel I have the knowledge I need to have a more equal conversation with an attorney and can focus in on what else I need to know instead of spending money hearing trusts 101. I bought this book in hard copy and then added on the kindle version for 2.99. I've decided this is the way to go from now on for reference material. I can use the paper at home and have the electronic version with me when I travel.

My wife and I have been through the book. Whether you decide to create your own living trust based on your own personal circumstances or use the book to learn and go prepared to an attorney qualified in that phase of the law if you purchase and read and understand this well written and up to date book it is well worth the small investment. Even if you prepare an online trust using Nolo or use the CD at home this will make the going much easier. There is a saying that "to ask a question one must already know part of the answer." This book will give you a great deal more than part of the answer. A drawback to making your own living trust is, as the author points out, there are differences in requirements by state, county, and financial institutions and this requires effort by the grantor(s) to comply and navigate those requirements. Also it is up to the grantor (you) to make decisions along the way in creating the living trust and even then there are hurdles for the successor trustee. But all this is in the book. Also there may be other books which may be required which have to do with forms, deeds and property transfers, etc. along the way. But if you are in a state with high probate costs or estate taxes or crowded courts with delays and have a good amount of assets this could be the book for you.

Maybe you can make a trust following these instructions. IF YOUR LIFE IS VERY SIMPLE AND YOU DO NOT HAVE MUCH. if you have "interesting" situations with children, a business, kids from prior relationships, etc. you are very unlikely to complete making the trust without help. The subjects are just too difficult. Still, there is good, very practical advice in this book even if you ultimately decide to have a lawyer. A lawyer will also help to keep you focused as you deal with the very unpleasant subjects of death, illness, partner's death and/or illness etc. A confession - We started to form a trust several years ago and were daunted by the complexity of our life situation (who did we want to raise our kids if we died? Did the new "parents" get all of our money to help with that?) How do we want our money distributed if we died as relationships changed. Our life is more stable now with the kids gone and we were actually able to finish this time.

Excellent book that shows how simple making my own Living Trust can be. Having recently worked on a family probate situation, using the living trust information opened my eyes to what all this legal end of life stuff is all about. Simply, if you don't have someone you really trust to handle you estate, and it's worth more than the state probate avoidance limit (Calif. = $150,000), the court steps in and one gets entangled in a doing a series of forms and procedures the oversees to protect the distribution of the deceased person's estate. If on the hand you have someone you trust to be the executor of your estate, and business affairs, etc., then you make a Living Trust with yourself as the 1st trustee, and successor trustees if you die or become incapacitated, and the court doesn't need to get involved, making things much simpler. That's all there is to it. So, if you have a capable person in your life you really trust to handle your estate, by all means, make yourself a living trust. Also use Quicken WillMaker to organized the detail. Good luck and a long life.

Take your time, it's a lot to consider. Still, if you take this piece by piece you'll come across some serious issues. This guide takes you to dark corners you've been staring at for years and hands you a flashlight. It will help you knockdown your own vanity and assess the people in your life--who's dependable, trustworthy...or not. It's not fun to think about, but when you're up in age and need help, your family may be the worst people you've ever had to rely on. This book sets the tools in front of you and shows you what to do to make your instructions LEGAL and VIABLE in your neck of the woods. Once you start, you'll be overwhelmed. And right after that, the inevitabilities of your life come sharply into focus. Even if you don't have stacks of cash, this book will show you how to shelter the material you've acquired over 20 to 50 years from depleting taxes, and how your estate can legally be transferred to whomever you choose.

A lot to read and digest but type very clear which makes for easier reading.