http://dandorsch.com Dan Dorsch, Attorney, Estate Plans, Business & Construction Law Fri, 04 Jan 2008 20:58:22 +0000 http://backend.userland.com/rss092 en People have different reasons for doing a Living Trust.  Some of these reasons are: You want to avoid probate. Since the property is no longer in your name as an individual, but is now in your name as trustee, there is no reason to go through probate. This is a savings of ... http://dandorsch.com/reasons-to-create-a-living-trust-2.htm A Living Trust is also known as an "inter vivos" trust. It is created during your life and has three key elements: Trustor – This is the person who sets up the trust; Trustee – The person appointed by the Trustor to actually manage the trust; and Beneficiary – The person(s) who receive the assets from the ... http://dandorsch.com/how-a-living-trust-works.htm When you die, the assets you own or have an interest in are “stuck,”  unless you own them as tenant-in-common with someone else or you have a “pay-on-death” or “transfer-on-death” designation.  Probate is a court supervised process of ensuring that  to the various assets is passed to your beneficiary(ies) according ... http://dandorsch.com/what-is-probate.htm Disadvantages of Creating a Living Trust. Disadvantages to creating a Living Trust are few.  The primary disadvantages are:  The cost of establishing a trust.  A trust will cost more than a simple Will, though these costs are commonly less than the cost of going through probate.  The process of funding a trust ... http://dandorsch.com/disadvantages-of-a-living-trust.htm What are the advantages of creating a Living Trust? Depending on your family circumstances, the size and composition of your estate, and your goals, many advantages exist for creating a Living Trust.  These advantages include the following: You want to avoid probate. Since the property is no longer in your name as an ... http://dandorsch.com/reasons-to-create-a-living-trust.htm A Last Will and Testament is your written statement of what will happen to your estate when you die.  Your “estate” is comprised of all of the assets which you own in your name alone or as a tenant in common with one or more persons.  Your Will only affects ... http://dandorsch.com/last-will-testament.htm A Durable General Power of Attorney appoints an agent (attorney-in-fact) to make decisions for you when you no longer are able to do so.  Regardless of whether you execute a will or a trust, there are always circumstances where a power of attorney is needed.  While a trust “owns” your ... http://dandorsch.com/durable-power-of-attorney.htm An Advance Medical Directive is a document that combines a living will (a statement of your desires in end-of-life situations) and a medical power of attorney (your appointment of an agent).  By stating under what circumstances you want life support withdrawn by your loved ones and the related anguish of ... http://dandorsch.com/advance-medical-directive.htm October 11, 2007 ... 1:16am! First post and on a day with an extremely powerful day number. The number 11 is the symbol of clenched fist, the symbol of strength. Bob Marley, Rasta prophet, died on May 11, 1981. His most famous stance is standing with a raised & closed fist, singing: "Get ... http://dandorsch.com/welcome-to-my-website.htm