How to Create a Living Trust

Video Transcript

"You have created a substantial portfolio of assets, but now you're worried that when you pass on, your beneficiaries are going to be subject to a hassle with probate and estate taxes. Hello, I'm Robert Todd, and I'm here to answer the question, how do I create a living trust? Well first of all it's important to know that a trust is an instrument whereby you transfer the management of your assets to a trustee for the benefit of beneficiaries, and with respect to a living trust, this trust is created while you were still alive. But this is a very, very complicated area of the law, and if it's not done correctly, it will not have any effect of avoiding probate, or of protecting your assets. So you want to consider hiring a specialist in this particular area. And you can find specialist that create living trust, by contacting the state Bar Association, or looking in your yellow pages for certified attorneys under estate planning. I'm Robert Todd, and thank you for watching."