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Many people like the idea of leaving their estate in trust for their spouse.
Leaving your estate in trust for your spouse can accomplish the dual objectives of: (1) providing for your spouse; and (2) controlling who will receive the remaining trust assets when your surviving spouse passes away.
The trustee that you designate needs to have an understanding of the legal and financial concepts involved in being a trustee.
I’ve broken down your options regarding who should be the trustee of a trust that you establish for your spouse into four options:
(1) Your spouse:
(2) An individual other than your spouse:
(3) A co-trustee arrangement; and
(4) A corporate trustee.
For prospective law firm clients who want to schedule a free 30 minute initial phone call with Paul Rabalais, go to:
This post is for informational purposes only and does not provide legal advice. Please do not act or refrain from acting based on anything you read on this site. Using this site or communicating with Rabalais Estate Planning, LLC, through this site does not form an attorney/client relationship.
Paul Rabalais
Estate Planning Attorney…(read more)
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This sounds like you are talking about a bypass trust, right? What are the "cons" of using a corporate successor trustee or lawyer as successor trustee (obviously the fees or abuse thereof)? Thx
Thank you for your info❤️ it is GREAT!
I've been watching/ subscribed for a while.. I see you went from 13K subscribers (mentioned in your 1/15/21 video) to over 70K. Congrats, and thank you for your effort in making these videos!
I'm in NC so I'm sure the rules are different from LA but what these videos have convinced me of is I need to pay the $$ and see an Estate Attorney. My wife and I have a simple will that was done around 30 years ago where each inherits 100% when the other spouse dies. My wife has 3 adult kids from a previous marriage, I have no kids but have a brother and 12 yr old niece. I want a type of will or trust that won't allow my wife to change the will and give 100% to her side of the family should I pre-decease her. She wants the same protection should she die first. We've tentatively agreed on a 20% share for each of the 5 relatives. We do want to leave 100% to the surviving spouse in case they need that for long term care but just need the protection of not being able to change the will to exclude the other spouses' family. I'd prefer not to have the hassle and expense of a trust but it looks like that's going to be the best option.
Great info but please remove that U G L Y paintin G
Is it possible to designate that the proceeds that I leave behind for my children, either through a trust or will be used towards their mortgage payments as I feel a paid off home is important. I'm thinking that they need some skin in the game so what I propose is that each month when they make their mortgage payment an equal amount is withdrawn from the trust (if that is the instrument used) and sent to the mortgage company until either the assets run out or the mortgage is paid off. What I leave behind will only be about 2 or 3 hundred thousand. Is what I'm trying to complicated or to expensive to accomplish?
What is the cost of establishing a revocable Living Trust?
My spouse and I are joint owners of our trust with right to inherit . I’d be upset if he gave someone else control of our assets . I’ve seen that done and it was horrid watching someone have to ask for every little thing like a child. If your dead I really don’t think your going to care . It’s like our lawyer said when my husbands ex was asking for her 35 year old sons inheritance early., you aren’t dead yet . Your still using your assets.
Thanks for sharing this information.
Great info. Thanks for your videos
Thank you.
Good explanation
Good info, as usual