Free Living Trust Forms - Why Pay When The Form Is Free?
December 13, 2004
By Kathy Curtis
The hardest part about deciding who gets what after
you pass on is deciding what documents need to be
left behind. Ignoring this protective measure can
lead to unnecessary probates and disputes. A decade
ago, the idea of free living trust forms was
laughable. In fact up until the 1960s, the cost of
drawing up these testaments was so prohibitive that
only the wealthy could afford the services of a lawyer.
You're At Liberty To File For Free
In today's electronic age, the average person has easy access for
the means to get a free living trust form. Online or through the
State Attorney office, a person has the freedom to download a form
and fill it in how he sees fit. Be careful not to confuse a living
trust with a living will; each form is necessary to fully protect
assets and everyone's wellbeing.
Some highly recommended websites that offer a wide assortment of
these no-cost trust forms include
§ 1StopLegal.com
(all 50 states)
§ FTC.gov
(Federal Trade Commission offers valuable resources)
§ LegalZoom.com
(questionnaire is free)
Pros and Cons Of No Cost Forms
The process of properly documenting tricky scenarios is not for
the weak at heart. Situations that involve more than one trustee
and more than one benefactor are best left to experts to sort out.
The more parties involved the less likely that you'd handle the
procedure without causing heartaches once you pass on. In these
cases, contact a reputable law firm. Other options that aren't highly
expensive are living trust software, such as Quicken® WillMaker
Plus by Nolo.
The beauty of creating a living trust while you're still around
is you can identify how and where you would like to be cared for
should you become incapable of caring for yourself. On the flip
side, the ugly part of setting up a living trust is not properly
changing titles so that the trust is now in possession of your assets.
Another somewhat inconvenience of a living trust involves handling
transactions that are included in the trust. While alive, any transaction
involving those trusted assets must be done through the trust's
checking account. Enough can't be said about staying away from pushy
living trust mills and scams that prey on seniors.
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