PRESS-NEWS.org - Press Release Distribution
PRESS RELEASES DISTRIBUTION

Important Things to Know About Living Trusts

A living trust can offer people some advantages over a will, and people should understand what a trust is and how it may help them.

2012-07-11
July 11, 2012 (Press-News.org) Most people know that they should have wills to distribute their assets and provide for their families after they are gone. However, a will is not the only way that people can accomplish that goal. A popular estate planning tool is a living trust. A living trust can offer people some advantages over a will, and people should understand what a trust is and how it may help them.

What Is a Living Trust?

A living trust is a legal arrangement that governs a person's property while the creator is still alive. The trust document names three parties:
-The grantor: the person creating the trust
-The trustee: the person who controls the distribution of the trust's assets
-The beneficiary: the person or people who receive the trust's assets


Grantors transfer legal title to assets to trusts and the trustees then administer the assets in the trust. Grantors often name themselves and their spouses as trustees so they can continue to control their assets. Grantors also have the option of leaving instructions on how to distribute trust assets for any successive trustees that manage the trust after the grantor dies.

Living trusts are often revocable, so that the grantors have the flexibility to alter or abolish them. Once the grantor dies, however, the trust becomes irrevocable.

How Does a Trust Differ From a Will?

Wills and trusts may seem like the same thing, but there are some differences between the two. A will only goes into effect after the person who drafted it dies. A trust is effective as soon as the grantor creates it. A will governs the distribution of all of a person's assets, while a trust can only control assets that a grantor specifically puts in the trust.

What Are the Benefits of a Trust?

Trusts are beneficial because they can help people keep their estates from having to go through probate. Heirs can receive their inheritances sooner if they do not have to wait for the probate process to complete. Trusts can also help people avoid or reduce estate taxes by decreasing the amount of the taxable estate. Additionally, a trust can help people maintain privacy in ways that will cannot. Probate proceedings are public record, while trust documents are private.

Consult an Attorney

Living trusts can be useful estate planning tools, but they may not be appropriate for everyone's circumstances. If you have questions about the best way to protect and pass along your assets to your loved ones, talk to a seasoned estate planning attorney who can discuss your situation with you and advise you of your options.

Article provided by Law Offices of Harold H. Parker
Visit us at http://www.tnelderlaw.com/


ELSE PRESS RELEASES FROM THIS DATE:

Estate Planning Without a Lawyer Is Risky

2012-07-11
With the easy availability of so many legal forms online costing little or no money, many people are completing "do-it-yourself" estate plans. Some question the need to spend the money to hire a lawyer for help with the process when they can do it for so little themselves. Others believe that having some kind of estate plan in place is better than not planning at all, even if it is something that a person drafts on his or her own. However, people run the risk of creating major problems for their survivors if they choose to make wills, trusts and other estate planning ...

Grimaldi's Pizzeria Continues its Expansion in Mt. Pleasant South Carolina

2012-07-11
Grimaldi's Pizzeria, famously known for their award-winning hand-tossed, coal-fired brick oven pizzas and calzones, fresh salads and delicious desserts is announcing its latest expansion move into the state of South Carolina. Located in Mt. Pleasant Towncenter, the restaurant will offer 4,000-square-feet of indoor dining and patio space, for 150 guests. Opening late this summer, guests will be welcomed by Frank Sinatra crooning in the background, more than 100-years of pizza making traditions, and the tantalizing aroma of pizza and calzones baked to perfection in the ...

Perry Passyflyer Takes Flight For Your Child

2012-07-11
Authors Katie Eshleman, Elizabeth Arnold, and Danielle Stanely grew up together in Hunterdon County, NJ. Now as mothers, they understand the plight of parents when that certain age hits and it is time to take away a child's prized possession. Giving up the "binky", "paci", or "dummy" can be a struggle for even the most patient of nurturers. They have found a way to make this experience a joyful and adventurous journey. Katie, a mother of three daughters, approached the writing of Perry Passyflyer with both humor and heart. "I was sure ...

JTM Food Group Introduces New IQF Crumbles Line and added Healthy Menu Offerings at 2012 School Nutrition Association (SNA) Conference

2012-07-11
JTM Food Group, a national leader in creating menu solutions for the food service industry, will introduce several new products at the School Nutrition Association's (SNA) 2012 National Conference in Denver, CO. The new offerings will be sampled by school directors from coast-to-coast and from border-to-border as more than 4,000 school nutrition professionals are scheduled to attend the show. JTM, which provides menu items to half of all schools in the United States, which is more than 12.8 million K-12 students across the country, has focused its research and development ...

IC-TAG Solutions, Inc. New RFID Offering to the Healthcare Industry: Latest RFID Solutions

2012-07-11
Since the Joint Commission on Accreditation of Healthcare Organizations (JCAHO) implemented new safety goals, there have been new advances in Radio Frequency Identification (RFID) implementation in the Healthcare Industry. The healthcare system uses a wide variety of processes to track patient information, from different types of insurances requiring claims in specific formats to different details and transactions from healthcare providers and clearing houses. RFID has the potential to combine different processes and improve communication, productivity and accuracy of the ...

SuccessWith.MOBI to Present a Mobile Marketing Seminar

2012-07-11
Land in the hands and pockets of your potential clients with effective mobile marketing. Take an in-depth look at companies, both small and large, that have developed mobile marketing strategies to engage, educate and increase sales. Attendees will learn about mobile marketing e-commerce, QR codes, apps and other breakthrough-the-clutter tactics that can take your marketing to the next level. This class will take place at WHERE: La Costa Latina Resource Room (5465 N. Pensacola Blvd.) on Wednesday: August 15th, 6pm- 8pm OR Thursday: August 16th, 3pm-5pm. TUITION: $35.00 Presented ...

Georgia Golf Course Owners Association Launches Play18.com

2012-07-11
In an effort to provide golfers with the best price possible and giving course owners full control of how they price and list their available tee times, the Georgia Golf Course Owners Association (GGCOA) has launched Play18.com. The new online and mobile tee time service was created to provide Atlanta area residents and visitors the most convenient and easy to use booking experience. Created by golf course owners, Play18 pulls available tee times directly from the golf courses' website, which is where the best available price can be found. For added convenience, users ...

Author Paul H. Yarbrough Named 2011 and 2012 Amazon Best Seller for Mississippi Cotton

2012-07-11
Paul H. Yarbrough's critically-acclaimed debut novel, Mississippi Cotton, has become a 2011 and 2012 Kindle Bestseller on Amazon. Yarbrough's debut book brings to light the complex history of rural Mississippi in the 1950's. The book has earned a strong following and been nominated for several prestigious literary awards. Yarbrough is currently working on his highly anticipated second novel. Mississippi Cotton follows a young boy named Jake Conner on his adventure through the Mississippi Delta in 1951. Many readers will be able to relate to Jake's summer vacation, "but ...

Community Corps NPower IT Project Signs Up Stanbridge College as Charter West Coast Member

2012-07-11
Stanbridge College, a technical college that offers diploma programs and Associate, Bachelor and Master of Science degrees in Healthcare and Information Technology, has become a charter member of a national program that enlists leading academic institutions to work with NPower's Community Corps to provide pro bono IT support to nonprofits and schools. NPower is a national nonprofit providing IT services to other nonprofits and training to young adults across the country. The partnership with The Community Corps program will enable students in IT programs at Stanbridge ...

Choosing PrintingRay for Vinyl Stickers Printing Approves of Professional Prudence of a Business Person

2012-07-11
PrintingRay holds a unique position among the top-notch sticker printing companies, with a huge number of customers increasing each day, evident through the website statistics. Catering to all sorts of inquiries for vinyl stickers, PrintingRay comes up as the best selection a prudent business entrepreneur can make for his/her business promotion. According to an online survey, almost all the companies use stickers for different purposes, advertisement and promotional deals over the top. Our customers rely on us for all sorts of products we are offering due to the superb ...

LAST 30 PRESS RELEASES:

New research boosts future whooping cough vaccines

Mechanistic understanding could enable better fast-charging batteries

No bones about it: new details about skeletal cell aging revealed

UNM scientists discover how nanoparticles of toxic metal used in MRI scans infiltrate human tissue

UMaine research examines best methods for growing Atlantic sea scallops

Medical cannabis could speed recovery, especially at community recovery homes

Study assesses U.S. image amid weakening of democracy

Two scientific researchers to receive 2025 Ralph L. Sacco Scholarships for Brain Health

Researchers improve chemical reaction that underpins products from foods to fuels

Texas Tech to develop semiconductor power devices through $6 million grant

Novel genomic screening tool enables precision reverse-engineering of genetic programming in cells

Hot Schrödinger cat states created

How cells repair their power plants

Oxygen is running low in inland waters—and humans are to blame

ACP’s Best Practice Advice addresses use of cannabis, cannabinoids for chronic noncancer pain

Beyond photorespiration: A systematic approach to unlocking enhanced plant productivity

How a small number of mutations can fuel outbreaks of western equine encephalitis virus

Exposure to wildfire smoke linked with worsening mental health conditions

Research uncovers hidden spread of one of the most common hospital-associated infections

Many older adults send their doctors portal messages, but who pays?

Fine particulate matter from 2020 California wildfires and mental health–related emergency department visits

Gender inequity in institutional leadership roles in US academic medical centers

Pancreatic cells ‘remember’ epigenetic precancerous marks without genetic sequence mutations

Rare combination of ovarian tumors found in one patient

AI-driven clinical recommendations may aid physician decision making to improve quality of care

Artificial intelligence has potential to aid physician decisions during virtual urgent care

ACP and Annals of Internal Medicine present breaking scientific news at ACP’s Internal Medicine Meeting 2025

New study reveals polymers with flawed fillers boost heat transfer in plastics

Signs identified that precede sudden arrhythmic death syndrome in young people

Discovery of bacteria's defence against viruses becomes a piece of the puzzle against resistance

[Press-News.org] Important Things to Know About Living Trusts
A living trust can offer people some advantages over a will, and people should understand what a trust is and how it may help them.