Why I Recommend Living Trusts.

Most Asked Questions About Living Trusts

Q: If I have a Will, do I have to go through Probate?
A: If your estate exceeds $10,000, ALMOST ALL individually owned assets must go through Probate.

Q: What are some of the bad features of Probate?
A: 1)The cost. Probate can cost your estate up to 10% of its value. 2) The publicity. All probate proceedings are public records. 3)The time. In practicality it will take six to nine months minimum to do a formal administration.

Q: What's the difference between a Probate Estate and a Gross Estate for federal tax purposes?
A: A Probate Estate consists of those assets which are subject to Probate. On the other hand, the gross estate for federal tax purposes includes non-probatable assets such as insurance (under certain circumstances), pension plans and jointly owned property.

Q: Is there a way to avoid the expense of Probate and still have control of my property?
A: Yes. A Living Trust will afford you the opportunity to avoid substantial Probate expenses and, at the same time, maintain full and complete control over your assets.

Q: Can a Living Trust save Estate Taxes?
A: Yes, for a married couple. A Living Trust can be created such that it includes the provision known as a Marital Deduction Trust which allows for tax-free passing of assets up to 2 million dollars, depending on what the Congress does with the Estate Tax Laws.
Q: Can a Living Trust help if I enter a nursing home?
A: A Living Trust can provide that a Successor Trustee assumes the powers of administrating the Trust for your benefit in the event you become legally incapacitated or impaired - as you may define that term in your trust document.

Q:  How can Mark R. Lewis, PA help?
A Living Trust can help you avoid the burden and high cost of the probate of your estate. We conduct free seminars on a weekly basis which are designed for easy understanding and permit you to ask any questions. Call to reserve your place now!

We also offer a complimentary consultation to you to discuss whether you can benefit from this estate planning device. You may call our office to arrange for your FREE appointment at your convenience.

As an added service and to inform you about the benefits of the Living Trust, our office has a video tape available for your viewing, without charge. Simply come in or call our office to reserve a time to view the tape either at our office or in the comfort of your home.