General Category > General Discussion
Revocable living trust questions
Gliderjohn:
If important to you a trust allows your assets to stay private. When a will is probated that information is open to the public.
GliderJohn
bigbikerrick:
Hi Lannis, re;
So what are they for and why do you have one ..... ? Must be some good reason I haven't thought about .... ?
Im kinda wondering the same thing, Lannis, Probably to avoid probate is the reason, I think.
Rick.
inditx:
Trusts clearly outline your wishes as to whom to bequeath what to without probate and delays of court, paperwork etc.. as has been said here already. They also prevent or at least strongly dissuade any contesting of wills and such.
The other thing it does is allow the purchase of certain firearms, suppressors and the likes without having to gain approval from the highest local law enforcement office. Again, states vary in these things but your local attorneys know.
I would recommend a good attorney and not count on legal zoom etc. I suspect legal zoom or the like would not ask nor would you want to divulge your most intimate financial details to them. And more likely than not, they would not be along to help or support at your demise should questions/problems arise with it's execution.
I am not a lawyer and I may or may not personally know about firearms or suppressors and such things. :-\
bigbikerrick:
--- Quote from: gliderjohn on January 21, 2015, 12:55:27 PM ---If important to you a trust allows your assets to stay private. When a will is probated that information is open to the public.
GliderJohn
--- End quote ---
Im not really concerned about the privacy issue, John, but if a trust will make things easier for my son when my wife and I are gone, then its worthwhile, if not, who knows....
Thanks Rick.
bigbikerrick:
--- Quote from: inditx on January 21, 2015, 01:08:57 PM ---Trusts clearly outline your wishes as to whom to bequeath what to without probate and delays of court, paperwork etc.. as has been said here already. They also prevent or at least strongly dissuade any contesting of wills and such.
The other thing it does is allow the purchase of certain firearms, suppressors and the likes without having to gain approval from the highest local law enforcement office. Again, states vary in these things but your local attorneys know.
I would recommend a good attorney and not count on legal zoom etc. I suspect legal zoom or the like would not ask nor would you want to divulge your most intimate financial details to them. And more likely than not, they would not be along to help or support at your demise should questions/problems arise with it's execution.
I am not a lawyer and I may or may not personally know about firearms or suppressors and such things. :-\
--- End quote ---
Oh Wow, I wasnt aware of the firearms thing....must be for fully auto weapons? My neighbor has an Uzzi, and he told me he had to get something signed by the local chief of police.I think it was very expensive, too.
Rick.
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