Living Trusts and Avoiding Probate _OH

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
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