1. 1
Heritage
Presents
The Living Trust
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The Inter Vivos Revocable Trust
better known as the “Living Trust” has been around for over
200 years. It originated with the “Statute of Uses” in England
and became part of our law when our country adopted
English Law.
It takes the place of a Will and provides more secure
protection and tax savings when you die. Its greatest benefit is
preventing Probate.
The History of the Living
Trust

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What is Probate?
 Probate is the legal process for transferring the assets of
the deceased when they die.
 It occurs for most everyone unless they have a trust.
 Each state sets specific parameters for Probate in their
state.
 In most states it requires very few assets to go through
Probate…such as the ownership of a home.

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The Cost of Probate…
 It doesn’t take debt into consideration! For
example, if your home is worth $500,000
but you owe $450,000 on your mortgage,
Probate could cost 5%-10% in Probate fees
on the entire $500,000 value of your
home. That could be $50,000 in Probate
fees just on your home. A Living Trust is
always better than a Will!
 Depending on which state you live,
Probate fees could cost as much as 5%-
10% of the total value of all your assets.
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
$500,000
Cost of
Probate
Gross Value
Net Value
Probate Fees
Left For Heirs

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The Cost of Probate…
 It locks up your assets
during the Probate process
which can be as short as 6
months or as long as 3 years.

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 It makes your estate a
matter of public record.
Anyone can see what you
have and can make a claim
against it.
The Cost of Probate…

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If you have a Will…
 A Will is an invitation into Probate. It is nothing more than
instructions to the Probate judge. You don’t want to have a
Will.
 A Will can be contested very easily in Probate court. Anyone
can enter a claim against your estate in Probate. Relatives,
creditors, the IRS…they can all make claims against your assets
if you have a Will…and many times they win!

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Why Do Attorneys Prefer Wills?
 Attorneys prefer to do Wills because when you die they get to
do the Probate.
 Most of the Probate fees go to the Attorney who probates the
Will.
 Attorneys would rather put you into a Will so they can make
thousands of dollars on the Probate instead of charging you a
one time modest fee for a Living Trust.

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Other Advantages of
a Living Trust?
 They are extremely private and almost impossible to contest.
 For a married couple they effectively double the Estate Tax
exemption.
 They pass your assets to your loved ones at your death in the
exact way you want them to be passed without any Probate
Fees for your loved ones to pay.

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A Living Trust Also
Provides Living Benefits
 They give your loved ones the legal power to take care of you if
you are injured or ill.
 They let you name the person you want to take care of you as
Conservator if you become incompetent from injury or illness
like Alzheimer's disease.
 They provide for the care of your minor children if both
parents die prematurely.
 They give legal instructions to the doctor on whether you want
to be maintained on life support if you are brain dead with no
chance of recovery.

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A Living Trust is
Very Versatile
 Unlike a Will, you only have to do a Living Trust once. You don’t have
to redo the document every time you change something as you do with a
Will.
 You can change a Living Trust yourself and easily provide for changes
without having to pay a lawyer to do it.
 You can change your beneficiaries and your Successor Trustees who will
take over when you die and you can do it at any time without any cost.
 Best of all, you don’t need an attorney to settle your estate when you die.
Your children or other loved ones can serve as successor trustees and do
the settlement very easily.

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How Does a Living Trust Work?
 A Living Trust is revocable which
means you can change it, modify
it, or cancel it, anytime you want.
You do not lose control of your
assets. You continue to run your
life and control your assets just like
you did before doing a Living
Trust.

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How Do You Place Your Assets
into the Living Trust?
 To put your assets into a Living Trust all you
do is change the name of the owner on your
asset to the name of your Living Trust. This
is a simple process. You just notify your
asset holder that you have formed a Living
Trust and you want the account name
changed to the name of the Trust. Your
home is placed into the Living Trust by
doing a quit claim deed making the Trust
the owner of your equity.

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You Are Always In Control
 Because you are the Trustee, the
Trustor, and the Beneficiary, you
maintain control over the Trust
operation and over your assets in the
trust. You can take assets out of the
Trust any time you want and you can
sell them, rent them, trade them, or
spend them. Its all up to you.
 You always have full control.

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You Can Set the Trust Up Any
Way You Want
 You can name individual beneficiaries and specify how you want them
to receive their share when you die. You can leave uneven amounts to
each heir or completely disinherit a child. You can keep funds in the
trust to be used for the education of your children or grandchildren, or
provide for a disabled child if you wish. It’s all up to you. If you ever
change your mind…you can change the Trust without an attorney to
suit your wishes.

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Heritage Living Trust
Documents…
 The Introductory Letter With Special Instructions: This document outlines
all of the parties to your trust and gives specific instructions on how to execute
your Trust.
 The Abstract of Trust: This is a short-form version of your Living Trust
document and the one you present if your bank or any other authority asks
for a copy of your Trust.
 The Living Trust Document: This is the main Trust document that contains
your wishes and instructions.
 Schedules: This is where you list all of your assets in your trust. There are
provisions for real estate and personal property.
 Personal Property Transfers and Disposition of Personal Effects: This
document is where you specify bequests of personal property, jewelry,
collections, family heirlooms, pets, etc. to specific people.

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Additional Documents…
 Amendments to the Trust: This document allows you to make changes in
your Trust yourself. Simply note the desired change, then date, and notarize
the change, and its done.
 Assets Durable Power of Attorney: This document allows the person you
appoint to function in your place in matters of business when you cannot.
 Pour Over Will: This document directs all assets inadvertently left out of the
Trust to be “poured over” into the Trust once they have cleared Probate.
 Living Will: This document instructs attending physicians regarding the
ending of your life if you are irreversibly terminal or brain-dead. Choices in
levels of care are provided. It allows the doctor to withdraw life support if
that is your desire.

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Additional Documents…
 Durable Power of Attorney for Health Care: This document allows you to
appoint a person to make health care decisions for you when you are
incapacitated and unable to make those decisions for yourself.
 Burial Instructions: This document allows you to determine and record your
decisions regarding your burial.
 Instructions Regarding Donation of Anatomical Gifts: This document allows
you to give permission and specific details regarding the donation of vital
organs or your entire body.
 Settlor Trustee Instructions: This section contains complete instructions for
the settlement of your estate. Your appointed successor trustees can
successfully close your estate by following these instructions

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Additional Documents…
 Essential Documents Location: This set of documents allows you to record
details of your life and location of important papers as well as key advisors
you depended on such as your priest, pastor, financial advisor, attorney, or
accountant.
 Last Instructions To Your Family: This section allows you to write a final
private communication to your family and hold it in confidence until your
death.
 Appointment of Guardian for Minors: This document allows you to assign a
legal guardian for your minor children or disabled dependent adult children.
 Appointment of Conservator: This document allows you to assign a
“Conservator of the Person” for yourself in the event you become
permanently incapacitated through illness, accident, or old age, avoiding a
court-appointed Conservatorship.

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Additional Documents…
 Separate Property Agreements (A-B Trust Only): These documents
allow you to legally define separate property between spouses,
especially in community-property states.
 That completes the documents in an A-B Living Trust for a married
couple. Every conceivable need is covered by the appropriate trust
document included in the Heritage Living Trust. All of these
documents are covered by the Heritage Living Trust Guarantee.

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If You Have Children
By a Former Marriage…
 People divorce and have children in more than
one marriage these days. When that happens
the Heritage Living Trust protects your right to
leave your share of your marital estate to your
children from a former marriage if you wish.
 In the Heritage Living Trust you and your
current spouse may express and protect your
individual wishes regarding your children with a
former spouse.

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The Heritage Guarantee
 Every Heritage Living Trust is guaranteed to be 100% correct for
legal accuracy.
 Every Heritage Living Trust is guaranteed to be delivered to you
within six weeks.
 Every Heritage Living Trust is guaranteed to include free help and
support over our 800 help lines or email, for the life of the Trust.
 Every Heritage Living Trust is guaranteed to include free changes
for the life of the Trust.

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How To Get Your
Heritage Living Trust
 The process is very simple. Your Heritage Independent Agent will help
you complete the Trust Data Form to make sure all your questions are
answered.
 Your Heritage Independent Agent will forward your completed Trust
Data Form, along with your payment, check or credit card to Heritage.
 Your Heritage Independent Agent will leave you an Asset Organizer to
collect information to fund your Heritage Living Trust.
 Review your completed Asset Organizer with your Heritage
Independent Agent.
 Expect your Heritage Living Trust to be delivered by your Independent
Heritage Agent within six weeks.

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The Rest
Is Up To You
 You can procrastinate and wait until its too late
and let the State settle your estate in Probate
Court…or you can do the wise thing and take care
of your family while you have the time and
presence of mind to do so. The Heritage Living
Trust is the finest Living Trust available.
Take the necessary steps now to make sure that
your family receives all your estate and the
Probate attorneys and courts receive nothing.

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Heritage Living Trust Is Committed
To Excellence
 Heritage Living Trust has been
preparing Living Trusts Nationally since
1990.
 Heritage Living Trust is rated A+ by
the Better Business Bureau.

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Contact Your
Heritage Independent Agent
To See A Sample
Heritage Living Trust
We Are Here To Help You