XXXX,
I’m responsing to the article “What Happens When A Spouse Dies?”
by JEH. The author failed to mention getting a Revocable Living Trust (RLT) to
distribute your assets. When a person contacts a lawyer for their will, they
ought to ask if the lawyer knows how to prepare an RLT. Each state has
different requirements for an RLT, but basically the RLTs are all the same. The
RLT allows your assets to be distributed to your heirs TAX FREE and without having
to go through probate. It’s a simple document that works along side your will
(and in some cases in lieu of a will). The RLT is revocable in case your living
situation changes (divorce, death of an heir, or simply if you just change your
mind). Your assets must be transferred into the trust, which is kind of a pain,
but the results of the RLT are worth the effort. You can go online and print
out a boilerplate RLT and fill the blanks in yourself, and this document, when
witnessed, is just as legal as one produced by a lawyer. I STRONGLY suggest
that everyone with any assets puts those assets into an RLT. You won’t be
sorry. – M.C.
From the Survival Blog
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