Make Your Own Living Trust »

Denis Clifford, a graduate of Columbia Law School, where he was an editor of The Law Review, is a lawyer who specializes in estate planning. He is the author of many Nolo titles including Quick and Legal Will Book, Nolo's Simple Will Book and Make Your Own Living Trust and co-author of Plan Your Estate and A Legal Guide for Lesbian and Gay Couples. He has been interviewed by such major media as The New York Times, Los Angeles Times, and Money Magazine.

Living trusts made simple! Protect your family with this bestselling book.

Death may be inevitable, but probate doesn't have to be. By creating a living trust, your property will bypass lengthy and expensive probate proceedings and go directly to the people you've designated, quickly and easily.

Make Your Own Living Trust explains how to create a living trust, transfer property to the trust and amend or revoke the trust at any time.

Make Your Own Living Trust includes all the forms you need -- as tear-outs and on CD-ROM -- to create your own trust, plus step-by-step instructions for filling them out. Completely updated and revised, the 9th edition covers the latest laws and information about federal and state estate taxes.

Good in all states except Louisiana.

Wall Street Journal

There are important differences between the trust-mill approach and that of such well-respected products as Nolo's Make Your Own Living Trust.

Introduction

How to Use This Book

1. Overview of Living Trusts
Living Trusts Explained
Probate and Why You Want to Avoid It
Avoiding Probate
Reducing Estate Taxes
Other Advantages of a Living Trust
Possible Drawbacks of a Living Trust

2. Human Emotions and Living Trusts
Leaving Unequal Amounts of Property to Children
Second or Subsequent Marriages
Single People
Disinheriting a Child
Unmarried Couples
Communicating Your Decisions to Family and Friends

3. Common Questions About Living Trusts
Does Everyone Need a Living Trust?
If I Prepare a Living Trust, Do I Need a Will?
How Can I Leave Trust Property to Children and Young Adults?
Will My Living Trust Reduce Estate Taxes?
Will I Have to Pay Gift Taxes?
Will a Living Trust Shield My Property From Creditors?
Do I Need a "Catastrophic Illness Clause" in My Trust?
How Does Where I Live Affect My Living Trust?
Can I Place Real Estate in a Living Trust?
Can I Sell or Give Away Trust Property While I'm Alive?
Is a Bank Account Held in Trust Insured by the FDIC?
Will Property in My Living Trust Get a "Stepped-Up" Tax Basis When I Die?
Who Must Know About My Living Trust?
Could Someone Challenge My Living Trust?

4. What Type of Trust Do You Need?
If You Are Single
If You Are Part of a Couple
Individual Trusts for Members of a Couple
A Basic Shared Living Trust
The Tax-Saving AB Trust
Nolo's Standard AB Trust and AB Disclaimer Trust

5. Nolo's Tax-Saving AB Trusts
The Size of Your Estate
Should You Do It Yourself?
How Nolo's AB Trusts Work
Alternatives to Nolo's AB Trusts

6. Choosing WhatProperty to Put in Your Living Trust
Listing the Property to Be Put in Your Trust
Property That Should Not Be Put in Your Living Trust
Property You Can Put in Your Living Trust
Marital Property Laws
Completing the Property Worksheet

7. Trustees
The Initial Trustee
The Trustee After One Spouse's Death or Incapacity
The Successor Trustee

8. Choosing Your Beneficiaries
Kinds of Trust Beneficiaries
Naming Your Primary Beneficiaries
Simultaneous Death Clauses
Shared Gifts
Some Common Concerns About Beneficiaries
Naming Alternate Beneficiaries
Residuary Beneficiaries
Disinheritance
Putting Conditions on Beneficiaries
Property That Is No Longer in Your Trust at Your Death
Beneficiary Worksheets

9. Property Left to Minor Children or Young Adults
Property Management Options
Which Method Is Better for You: Child's Trust or Custodianship?
Tax-Saving Educational Investment Plans
Child's Trusts
Custodianships

10. Preparing Your Living Trust Document
Choosing the Right Trust Form
Making Changes to a Trust Form
Step-by-Step Instructions
Prepare Your Final Trust Document
Consider Having Your Work Checked by a Lawyer
Sign Your Living Trust in Front of a Notary

11. Transferring Property to Your Trust
Paperwork
Technical Ownership
An Abstract of Trust
Real Estate
Bank Accounts and Safe Deposit Boxes
Securities
Vehicles, Boats, and Planes
Business Interests
Limited Partnerships
Copyrights
Patents
Royalties

12. Copying, Storing, and Registering Your Trust Document
Making Copies
Storing the Trust Document
Registering the Trust

13. Living With Your Living Trust
If You Move to Another State
Adding Property to Your Living Trust
Selling or Giving Away Trust Property
When to Amend Your Living Trust Document
Who Can Amend a Living Trust Document
How to Amend Your Trust Document
Revoking Your Living Trust

14. After a Grantor Dies
Who Serves as Trustee After the Grantor's Death
The Trustee's Duties
Transferring Property to Beneficiaries
Preparing and Filing Tax Returns
Administering a Child's Trust
Administering a Custodianship

15. A Living Trust as Part of Your Estate Plan
Using a Backup Will
Other Probate-Avoidance Methods
Federal Gift and Estate Taxes
State Estate Taxes
Planning for Incapacity
Long-Term Trusts to Control Property

16. Wills
Why Prepare a Backup Will?
What You Can Do in a Backup Will
Pour-Over Wills
Avoiding Conflicts Between Your Will and Your Living Trust
Filling in the Will Form
Signing and Witnessing Your Will

17. If You Need Expert Help
Hiring a Lawyer to Review Your Living Trust
Working With an Expert
Lawyer Fees
Doing Your Own Legal Research
Glossary
Appendixes
A. How to Use the Forms CD-ROM
Installing the Form Files Onto Your Computer
Using the Word Processing Files to Create Documents
Files Provided on the Forms CD-ROM
B. Forms
Form 1: Basic Living Trust for One Person
Form 2: Basic Shared Living Trust
Form 3: AB Living Trust
Form 4: AB Disclaimer Living Trust
Form 5: Witness Statement for a Florida Living Trust
Form 6: Assignment of Property to a Trust for One Person
Form 7: Assignment of Shared Property to a Trust for a Couple
Form 8: Amendment to Living Trust for One Person
Form 9: Amendment to Basic Shared Living Trust or AB Trust
Form 10: Revocation of Living Trust
Form 11: Basic Will for One Person
Form 12: Basic Will for a Member of a Couple
Form 13: Affidavit of Successor Trustee

Index