Living Trusts and Avoiding Probate

This course explains the concept of the revocable living trust and how it can serve as an estate planning tool for virtually all estates. The course explains when a client should implement a living trust, the benefits of a living trust, and how a living trust actually works. Understanding the use and value of living trusts enables producers to participate in the full scope of a client’s planning process. The course also explains how a living trust can be used to shelter the unified credit and explores other sophisticated estate-planning techniques. Lastly, the course looks at the asset transfer process that follows the death of an estate owner.

The topics covered in this course include:

  • the purpose of estate planning
  • probate and guardianships
  • assets subject to probate
  • avoiding probate with a living trust
  • trust provisions
  • funding a trust
  • estate taxes and the AB trust
  • estate administration

This is an intermediate level course.  Upon conclusion, students will be able to:

  • demonstrate an understanding of the basics of probate and guardianships
  • cite assets that are subject to probate and those that are not
  • explain the advantages of a living trust
  • describe when a living trust should be used
  • articulate the basic provisions of a living trust
  • apply basic estate planning techniques beyond the living trust
  • recognize when more sophisticated estate planning techniques may save the client tax dollars
  • explain how an estate is administered upon death
  • explain estate planning and the use of living trusts with clients