#livingtrusttips

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Introduction to the Dashboard: Overview of the EZ Living Trust dashboard. The "My Questionnaires" section allows you to view or start new questionnaires. Future standalone legal documents (e.g., power of attorney) will also be accessible here.

Document Management Features: Completed and checked-out documents will be stored for review. Related services, such as support, are available to assist with estate planning.

Support Options: Access support via email or by scheduling an appointment with staff or the presenter. The dashboard initially appears empty; users are guided to "My Questionnaires" for key actions.

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Binder Overview: The binder is provided physically (not as PDFs) with clear instructions and stickers marking where to sign. It is divided into sections, with specific tabs representing parts of the estate plan.

Notarization Requirements: Some sections require notarization or witness signatures. A licensed notary public is needed for 10-12 signatures per person, which costs around $150 in California.

Witness Requirements: Two independent witnesses (not beneficiaries or close family) must attest to the trustee's signature. Witnesses must include their addresses and attest to the trustee's sound mind.

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Assigning Assets to Non-Immediate Beneficiaries: Allocate specific assets or monetary amounts to individuals or organizations beyond immediate family, such as cousins, friends, or companies.

Special Items for Unique Recipients: Use this section to designate specific valuables, such as antique vehicles, special jewelry, or collectibles, to chosen individuals or charities.

Charitable Donations: Identify charities you wish to support, providing detailed information for the trustee, including names and locations. Comprehensive Details for Trustee: Include full names and clear instructions to help the trustee locate the intended recipients or organizations.

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Creating a Wish List for Asset Distribution: Essential to document general and specific wishes for asset allocation, balancing clarity and flexibility to guide the successor trustee.

Major Asset Management: Guidance on handling significant properties like the primary home and investment properties, including their inclusion in the trust and potential distribution strategies.

Customization and Flexibility: The software allows users to input detailed instructions for various asset types, including vehicles, businesses, loans, and even pets, with sample answers provided for ease.

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EZ Living Trust President, Alvin Parra explains what a Successor Trustee is, what qualities stand out, and how to select your Health and Financial agent and Guardian.

Role of a Successor Trustee: The successor trustee acts as the next "CEO" of your living trust, responsible for managing the trust’s assets after the initial trustee (or trustees) passes away.

Choosing Successor Trustees: Typically, families choose organized, responsible adult children or trusted friends as their primary and secondary successor trustees. These individuals should be dependable and capable of handling paperwork and financial responsibilities.

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The Importance of Living Trusts in Estate Planning: The speaker emphasizes the critical role of living trusts in ensuring smooth wealth transfer to heirs, avoiding probate, and preventing family disputes after a person's death.

Barriers to Establishing Living Trusts: Many clients procrastinate or avoid creating living trusts due to high attorney fees (ranging from $3,000 to $5,000) and intimidation or confusion about the legal process.

Personal Motivation and Experience: The speaker shares a personal story of a client who passed away without a living trust, leading to family conflicts and lengthy probate processes. This experience motivated the speaker to find a more accessible solution.

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Learn why it’s important to:

✅ Determine the value of your assets for equitable distribution.

✅ Clearly specify beneficiaries and their shares.

✅ Avoid excluding children to foster family harmony and prevent disputes.

✅ Plan for unforeseen circumstances, such as the passing of a beneficiary. Importance of Estate Planning: Creating a solid estate plan serves as a blueprint for your legacy, detailing how assets and properties should be distributed.

Comprehensive Asset Coverage: An estate includes houses, cash, retirement accounts, savings, and non-designated bank accounts, all of which become part of your trust if no beneficiaries are assigned.

Asset Distribution Details: Specify the percentage of property allocation for each beneficiary and decide on contingencies, like the reallocation of assets if a beneficiary passes away.

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A Successor Trustee is the person responsible for administering and settling a Trust after the creator (called the Grantor) of the Trust dies. A Successor Trustee is also responsible for the Trust in the event the Grantor becomes incapacitated or unable to make decisions.

Role of a Successor Trustee: A successor trustee steps in to manage a trust when the trustor becomes incapacitated or passes away.

Primary Responsibilities: These include managing and distributing trust assets, making investment decisions, handling income, and settling outstanding debts.

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Creating a Wish List for Asset Distribution: Essential to document general and specific wishes for asset allocation, balancing clarity and flexibility to guide the successor trustee.

Major Asset Management: Guidance on handling significant properties like the primary home and investment properties, including their inclusion in the trust and potential distribution strategies.

Customization and Flexibility: The software allows users to input detailed instructions for various asset types, including vehicles, businesses, loans, and even pets, with sample answers provided for ease.

Successor Trustee's Role and Compensation: Outlines the duties of the successor trustee, options for compensation, and the importance of specifying these to ease their responsibilities.

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A living trust is a trust fund and legal document that secures your assets for a beneficiary until a certain time, such as when you pass away when the beneficiary reaches a certain age, or another circumstance specific to your needs.

👉Create your account in a few minutes at: www.ezlivingtrust.com

Don't pay $5,000 for a Living Trust and Estate Plan, when you can do it yourself with our modern, user-friendly, plain English online software to help you easily answer all your questions, and generate a viewable sample in 30-60 minutes. Pay $800 for couples ($750 for individuals) after you approve your answers and see an instant online draft sample (currently for CA clients). After you checkout, our team gets to work and print, bind, and ship your package with notary and recording instructions to finish everything in less than 2 weeks. Go to www.ezlivingtrust.com

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EZ Living Trust President, Alvin Parra explains what a Successor Trustee is, what qualities stand out, and how to select your Health and Financial agent and Guardian.

Role of a Successor Trustee: The successor trustee acts as the next "CEO" of your living trust, responsible for managing the trust’s assets after the initial trustee (or trustees) passes away.

Choosing Successor Trustees: Typically, families choose organized, responsible adult children or trusted friends as their primary and secondary successor trustees. These individuals should be dependable and capable of handling paperwork and financial responsibilities.

[floraclinton1200]

Don't pay $5,000 for a Living Trust and Estate Plan, when you can do it yourself with our modern, user-friendly, plain English online software to help you easily answer all your questions, and generate a viewable sample in 30-60 minutes. Pay $800 for couples ($750 for individuals) after you approve your answers and see an instant online draft sample (currently for CA clients). After you checkout, our team gets to work and print, bind, and ship your package with notary and recording instructions to finish everything in less than 2 weeks. Go to www.ezlivingtrust.com