by Thomas D. Begley, Jr., Esquire, CELA<\/p>\n
A revocable Living Trust is designed to avoid probate on the death of the individual. If the individual owns real estate in more than one state, the real estate can be transferred to a Living Trust to avoid probate in multiple states. Some states have very difficult and expensive probate procedures, and a Living Trust can be used to avoid the process entirely. In these cases, the Will simply leaves everything to the Trust, and the Trust spells out to whom the assets are to be distributed. The Trust can be funded during the individual\u2019s lifetime. A Trustee is appointed to administer the Trust. During the lifetime of the individual establishing the Trust, the individual is his own Trustee. Provision should be made for a Successor Trustee in the event of the disability of the individual establishing the Trust. The Trust can be revocable during (more…)<\/span><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" by Thomas D. Begley, Jr., Esquire, CELA A revocable Living Trust is designed to avoid probate on the death of the individual. If the individual owns real estate in more than one state, the real estate can be transferred to…<\/span><\/p>\n