Tag Archives: Living Trusts

Living Trusts for Everyone {Book Review}

Living Trusts for Everyone

Why a Will is Not the Way to Avoid Probate, Protect Heirs, and Settle Estates

by Ronald Farrington Sharp

Excerpt by Allworth Press
Ronald Sharp explains trusts in clear and easy-to-understand language, including one truth most lawyers don’t want to admit: A trust is often better than a will and less costly! Wills benefit lawyers. Trusts benefit families. Without all of the technical jargon included in most law books, Living Trusts for Everyone highlights the benefits of trusts and how to avoid unnecessary legal expenses.

Readers will find information on:

  • understanding the different types of trusts
  • how to fund a trust
  • the role of trustees and guardians
  • selecting an expert attorney to draft the trust
  • whether trust seminars are useful
  • who absolutely must have a trust

Not only can probate be avoided with trusts, but lesser-known advantages include easier asset management for children and disabled heirs, estate tax reduction, avoiding court-ordered conservatorship, and a simpler and less costly settlement process than with a will. Even readers who already have trusts can benefit by determining whether a trust is a good one or needs to be updated. The book also includes step-by-step instructions explaining what to do when the maker of a trust dies. Sample forms and letters assist the family in the settlement process.

My Take

This is an excellent book about Living Trusts! Especially if you are looking to save potentially thousands of dollars in lawyer fees {not to mention time and effort at the lawyer’s office}.

It literally answers any and all questions one has about living trusts {answered ALL of my questions – especially because I have my children to think about}. And mentions the benefits of having a trust: assest management, tax reduction, probate avoidence {that’s a big one}, and for those wishing to avoid court ordered conservatorship should they become disabled as to be unable to manage their own affairs. Oh ya, a lot of other benefits are defined in this book when you read it.

But I think the best thing of all, atop all the key points listed above, it comes with a set of instructions to follow at death. {I wish someone gave me a key list like this when I got married about what and how to change all my paperwork!}

Ronald Farrington Sharp, attorney himself, tells it like it is in attorney land, too – the schemes and tactics used to help make attorneys rich {Wow, they can make lots of money to hold your files in a cabinet}. I got a kick from some of the potentially costly methods.

But Ronald Sharp offers great advice on how to choose an attorney and what to watch out for. Because having the guidance of an attorney is very beneficial when planning your estate. Your life is not as simple as a fill-in-the-lines-with-a-printed-document-obtained-from-any-legal-forms-website. Obtain an attorney to help you plan your estate and wrapping up your estate at death = good. Finding an attorney you trust to help you with these matters = perfect!

Don’t think you have an estate?

Don’t put the notion aside until you read this book! Seriously. I didn’t think I had an ‘estate’ until I read this book. I am getting myself a living trust. Cased Closed. ;)

More Information on Living Trusts for Everyone: Why a Will is Not the Way to Avoid Probate, Protect Heirs, and Settle Estates by Ronald Farrington Sharp can be found at Amazon.com