A Sensible Option, The Suze Orman Living Trust
Making those critical financial decisions that every adult is faced with is intimidating. You can do extensive research, listen to all of your well meaning friends, but in the end, who can you trust? Attorneys and financial planners all seem to have a stake in your ultimate decision, how do you know that they are really giving you good advice? Facts don't lie, and when it comes to the facts about setting up a Living Trust as opposed to a traditional Last Will and Testament, the facts are pretty clear. For instance, the Suze Orman Living Trust clearly outlines the obvious benefits to be gained by taking this route toward making your final wishes a reality. A revocable living trust is a document which you create, which clearly spells out how you would like your assets to be divided upon your death. You have the option of appointing a Trustee, the person who will make sure your wishes are carried out. You may think this sounds exactly like drawing up a Last Will and Testament, however, a will requires two to three witnesses at its signing, and the real difference comes in the execution of these documents. A traditional will is document that requires court proceedings to be carried out. A person's assets and final wishes are handled in probate court. Even if the estate is relatively small, and uncontested, it can still take several months to be resolved. In addition, there are loop holes which can result in the beneficiaries spending a great deal of money out of pocket, and not receiving what their loved one had intended. A Suze Orman Living Trust, on the other hand, is a binding document, which can outline the very same assets, and to whom the Grantor wishes them to be given. The major difference, and the big plus to this method, is that the Suze Orman Living Trust will not require any court proceedings. Upon the paying off of the Grantor's debts, should there be any, the Trustee may disburse the assets just as the deceased had intended, without the added time and expense of a Will.
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