What are your next steps?

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2 thoughts on “What are your next steps?”

  1. What is a Revocable Living Trust??
    The following is some general information I came across that has been helpful. DO NOT take this for any type of legal advise because it is NOT. If you have specific questions regarding specific parameters of how a Revocable Trust will benefit your estate in ND, SD or MN, I have qualified Estate & Trust Law Attorneys I work with on a daily basis and refer people to if you need to visit with one. This information will help you understand how a Revocable Trust works as a tool to accomplish the goals you have for your estate.
    A Trust is a separate legal entity, somewhat like a corporation or limited liability company that survives the death of the people that create the Trust. The people that create a Trust are called TRUSTORS. The TRUSTORS create a Trust by transferring ownership of property to the Trust. The TRUSTOR also writes the rules for how the Trust will operate. The TRUSTORS also appoint TRUSTEES who are responsible for managing the property that is owned by the Trust. In creating a Trust, the TRUSTORS write the rules that the Trustees must follow in managing the Trust property and eventually terminating the Trust by distributing the property to other people. The people that receive property from the Trust are called BENEFICIARIES.

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