Protect and distribute family assets with a Revocable Living Trust. Financial planners and attorneys have used Trusts for years to pass property from one generation to the next without Probate. A Revocable Living Trust provides a safe and legal way to manage assets while alive, then distribute those assets exactly as desired upon death. Step-by-step Q&A software creates the Joint Trust or Single Trust required based on marital status, children, state of residence, and how assets are to be distributed.
Living Trust Legal Forms Software
AMERICA’S BEST REVOCABLE LIVING TRUST LEGAL FORMS SOFTWARE
A Living Trust allows you to legally decide two important issues regarding your wealth: how you want your assets and property managed while you are alive; and how you want your assets and property distributed after your death.
A Living Trust can provide for the distribution of property upon your death, just like a Will. But a Living Trust is more effective in many ways. A Will only takes effect upon death, while a Revocable Living Trust provides the same ability to determine asset distribution upon death. Plus a Trust provides a tool for protecting and managing property and assets during your lifetime!
A Living Trust empowers a designated Trustee to manage the Trust’s assets and property for the benefit of you and your family. The Trustee can be anyone you choose — including yourself! The asset management in a Living Trust covers any number of financial or property-based transactions: making one-time or recurring cash payments to a beneficiary; transferring assets upon a designated date; making financial moves under a specific set of circumstances; etc.
Further, should you become physically or mentally incapacitated, a Living Trust is critical: it allows you to designate in advance how you want your estate handled without any direct court intervention or supervision. You stay in control of your assets by making decisions and outlining them within the Trust before any issue arises! The Probate Court is kept out of the management of your estate.
Upon your death, the successor Trustee that you appoint within the Living Trust will act much like the executor of a Will. The Trustee will gather your assets, will pay any valid debts, claims and taxes, and will distribute your property and assets as you have clearly directed. More importantly, the structure of a Living Trust means the assets are owned by the Trust and are not part of the deceased person’s estate. That means there is usually no need for a Probate Court’s approval before the transfer. As such, the often time-consuming and costly probate process can be avoided!
Once the type of Trust that best suits your personal situation is determined, you can begin to create the Living Trust documents by using the software title specific to that choice.
HOW STANDARD LEGAL SOFTWARE WORKS: A simple introduction and easy-to-read overviews are presented first. A questionnaire follows. Text fields, check boxes and drop-down menus are used to collect your answers, with additional instructions next to each field if needed. As soon as the questionnaire is finished, the final documents are created instantly: just save and print! It’s that easy.
INCLUDED REVOCABLE LIVING TRUST STRUCTURES:
Standard Legal’s Living Trust software allows you to determine the type of Trust desired, based completely on your personal situation. Using the comprehensive information and instructions provided, you determine the type of Trust that makes the most sense for you and your family. Pick from any of these Trust structures, as all are included:
Joint Revocable Trust – Property to Children: Joint Trusts tend to be easier to manage when both spouses are alive, as compared to separate Trusts for each spouse. The couple’s assets are simply transferred to the one Joint Trust, and the couple will continue to manage the assets essentially as they did prior to setting up the Trust. This particular Trust can be used by married couples whose property value does not exceed $10,900,000 in total, who want to provide income to themselves while both alive, then provide income to the surviving spouse, and then to transfer property to their children after the death of the second spouse. If the value of the spouses’ property exceeds the amount set forth above, they may wish to consider more advanced estate planning take advantage of certain tax exemptions that exist. In those situations where the value of the joint estate does not exceed $10,900,000, there are usually no significant federal estate tax issues to be addressed through the use of a Trust, as the property will generally pass under the marital tax credit.
Joint Revocable Trust – Specific Gifting: Designed for married couples who may or may not have children and whose property value does not exceed $10,900,000 in total. This Trust allows the Grantor spouses to specifically name the Beneficiaries who will receive the Trust property after the death of the second spouse to die. This particular Trust format works well for those spouses who do not have children or for those spouses that have children but who do not wish to leave any or all of their property to their children. Additionally, Grantors with children can choose to exclude any or all of their children from the Beneficiary list, can leave only a part or portion of the Trust estate to their children, or could name children and non-children alike as beneficiaries. Like the other Trusts offered, while the Grantors are alive they can receive income from the Trust and have access to the assets of the Trust. After the second Grantor dies, the income and/or property from the Trust is paid to the Beneficiaries named in the Trust.
Married Individual Revocable Trust – Property to Children: Similar to the Joint Revocable Trust – Property to Children in that this Trust can be used by a married individual whose property value (along with the property value of his or her spouse’s assets) does not exceed $10,900,000, who wants to provide income to him or herself along with his or her spouse while both are alive, and then to transfer property to their children after the death of the second spouse. Where this Trust differs is that only one spouse is the Grantor in this Trust. This Trust holds the Grantor’s Trust property separately from the Grantor’s spouse or the Grantor’s spouse’s Trust. See the discussion within the overview documents for reasons to create a separate Trust.
Not Married Individual Revocable Trust – Property to Children: This Trust is designed for use by a single (i.e. not married) individual with children whose property value (in total) is worth less than $5,450,000. This Trust allows income to be paid to the Grantor during his or her lifetime, and then the Trust property is transferred to his or her children after his or her death so as to avoid probate issues. The Grantor will act as the initial Trustee of the Trust and the Grantor will name a Successor Trustee to assume that role should the Grantor become incapacitated.
Not Married Individual Revocable Trust – Specific Gifting: Similar to the Joint Revocable Trust with Specific Gifting, but this Trust is designed for use by a single (i.e. not married) individual with or without children whose property value (in total) is worth less than $5,450,000. This Trust allows the Grantor to specifically name the beneficiaries who will receive the Trust property after his or her death. This particular Trust format works well for those who do not have children or for those that have children but do not wish to leave any or all of his or her property to the children – and with this format, the Grantor with children can choose to exclude any or all of his or her children from the beneficiary list, can leave only a part or portion of his or her Trust estate to his or her children, or could name children and non-children alike as beneficiaries. Like the other Trusts offered, while alive the Grantor will receive income from the Trust and have access to the assets of the Trust. After the Grantor dies, the income and/or property from the Trust is paid to the beneficiaries that are named in the Trust.
Married Individual Revocable Trust – Specific Gifting: Similar to the Joint Revocable Trust with Specific Gifting, but this Trust is designed for use by a married person who wishes to establish a Trust that holds assets separate and apart from his or her spouse. This Trust allows the Grantor to specifically name the Beneficiaries who will receive the Trust property after the death of the second spouse to die. This Trust also provides income and support for the Grantor and his or her spouse during their lifetimes. See the discussion within the overview documents for reasons to create a separate Trust.
Not Married Multiple Grantor Revocable Trust – Specific Gifting: This Trust format is designed for use by multiple non-married persons who wish to establish a Trust for assets. This Trust allows the Grantors to specifically name the Beneficiaries who will receive the Trust property.
The following Trust documents are also included:
– Memorandum and Certificate of Trust
– Restatement of Trust Form
– Assignment of Assets Form
– Quitclaim Deeds for Real Property
– Pour-Over Will Forms
– Living Will with Advanced Healthcare Directive
– Healthcare Power of Attorney
– Notice of Final Disposition of Bodily Remains
– Durable Power of Attorney for Property
– Assets and Accounts List
– HIPAA Medical Records Release Authorization
– Amendment to Trust Document
– Certificate of Incumbency
– Affidavit of Successor Trustee
– Disposition of Bodily Remains by Burial
– Disposition of Bodily Remains by Cremation
If you purchased the above legal forms as individual software titles, the total would be well in excess of $100. But by choosing the Standard Legal Living Trust package, you get all of these legal forms listed above, plus a thorough overview of Trusts and how to use them, all for much, much less!
WHY CHOOSE STANDARD LEGAL?
☆ LEGAL & VALID IN ALL STATES: The documents from Standard Legal are valid in every USA state and territory. Primary documents cover federal law, with state-specific language or forms provided as required.
☆ QUALIFIED ATTORNEY AUTHORS: All of the legal documents within each Standard Legal software title are carefully researched and written by highly-qualified, experienced, licensed attorneys.
☆ UP-TO-DATE LEGAL CONTENT: Documents and instructions are revised any time a state or federal law, statute or administrative requirement changes. Our legal forms content is in constant review!
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☆ EASILY DOWNLOADABLE FORMS: Standard Legal’s documents can be downloaded in one .zip file, with additional state-specific documents available from the online forms server.
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☆ SAVE MONEY ON LEGAL FEES: Quickly and easily create the same kinds of legal documents as a local attorney. And save hundreds — sometimes even thousands — of dollars in the process!
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SYSTEM, SOFTWARE AND FILE USE REQUIREMENTS:
Standard Legal software is PDF-based and works on virtually all Windows, Apple, Macintosh, Android and Linux-based PCs, laptops, tablets and mobile devices.
Using the FREE Adobe Reader (or the commercial Adobe Acrobat), the legal documents are interactive PDFs featuring a questionnaire that converts the information you provide into a finished legal document. It is best to use the most up-to-date version of Reader; see ‘Help > Check for Updates’ in the program’s menu to get the latest version. It is CRITICAL that Reader ALWAYS be used as a stand-alone program or mobile app and NEVER within a web browser.
Links to a downloadable .zip file are presented immediately upon the completion of your order. This .zip must be expanded to access the PDF files. Most computers have an expansion program like WinZip pre-installed; if your computer does not we recommend StuffIt Expander (it’s FREE!). Once the file is downloaded, all documents within can be completed offline, no internet connection required. Read the START-HERE.txt file included in the initial download for more instructions.
Access links to the downloadable .zip file and/or the online forms server for this title are available for one (1) year after the date of purchase, upon request. Files downloaded and saved to a device may be used without time limit, but new downloads are no longer accessible one year after the date of purchase. A discount code is available to past customers by email to make a new or updated purchase.
Is Standard Legal Software Right for You?
To use any type of software requires a basic understanding of how a computer device operates. To use Standard Legal software, you must be able to complete these basic computer tasks: download a software file; expand a .zip file; enter a username and password to access a protected website; navigate a menu; install and launch a program; and open, save then print a completed document. If you do not fully understand how to complete any of these common steps, we recommend you use our Document Preparation Service or find a local attorney to create documents for you.
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