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Definition | Advantages | Funding | Administration

1. Definition
2. Advantages of the Living Revocable Trust
   1. Avoids Probate
   2. Avoids Guardianship
   3. Flexible
   4. Preserves Privacy
   5. Hard to Contest
   6. A Living Revocable Trust Takes Less Time than Probate
   7. Emotional Factor
   8. Avoids Probems of Joint Ownership
   9. Inexpensive to Set Up and Maintain
   10. Easy Disposition of Personal Property Upon Death
   11. Pre-Nuptial Protection
   12. Control After Death
3. Funding the Living Revocable Trust
   1. Bearer Bonds
   2. Bank, Savings and Credit Union Accounts
   3. Stocks, Bonds and Mutual Funds
   4. Closely-Held Stock
   5. Professional Service Corporations
   6. Partnerships
   7. Life Insurance, Annuities and Qualified Plans
   8. Real Property
4. Administration of a Living Revocable Trust
   1. Settlement of a Trust
   2. Duties of Successor Trustee
   3. Summary