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Ep. 19: Revocable Living Trust Essentials: The 10 Must-Have Provisions for Success
Manage episode 364146699 series 3428945
Contenu fourni par Ted Gudorf, Danny Gudorf, Gudorf Law Group, Gudorf Financial Group, Ted Gudorf, Danny Gudorf, Gudorf Law Group, and Gudorf Financial Group. Tout le contenu du podcast, y compris les épisodes, les graphiques et les descriptions de podcast, est téléchargé et fourni directement par Ted Gudorf, Danny Gudorf, Gudorf Law Group, Gudorf Financial Group, Ted Gudorf, Danny Gudorf, Gudorf Law Group, and Gudorf Financial Group ou son partenaire de plateforme de podcast. Si vous pensez que quelqu'un utilise votre œuvre protégée sans votre autorisation, vous pouvez suivre le processus décrit ici https://fr.player.fm/legal.
Discover the essentials of revocable living trusts with our host, Attorney Ted Gudorf, as he guides us through the 10 must-have provisions for success in a revocable living trust in Episode 19 of the Repair the Roof Podcast. Learn how to create a solid trust that not only protects your estate but also simplifies matters for your loved ones in case you become incapacitated or pass away.
Ted addresses the importance of identifying the individuals involved, the significance of a spendthrift clause, and the crucial no-contest clause. Additionally, he’ll cover often-overlooked provisions regarding incapacity determination and trust asset utilization. Don't miss this opportunity to gain valuable insights on how to ensure your revocable living trust runs smoothly and effectively.
Key Topics:
- Avoiding the Probate Court Process Through Trusts (00:45)
- 10 Must-Have Provisions for a Successful Revocable Trust (01:15)
- Must State that Trust is Revocable (01:18)
- Identify the Individuals Who Are Involved in The Trust (01:40)
- Who Are The Income Beneficiaries & Beneficiaries of Trust Principal (04:00)
- Name of Trust (04:55)
- Spendthrift Clause (06:10)
- Include a No Contest Clause (07:07)
- How to Determine Whether Trust Maker Has Capacity or Not to Be Trustee (09:00)
- How Trust Assets Can Be Used While Trust Maker is Incapacitated (10:42)
- Name a Trust Advisor or Making Provisions for Someone to Make an Appointment of a Trust Advisor(11:50)
- Create a Certification of Trust (13:40)
- Wrap-up (15:05)
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