This document provides an overview of living trusts, including: - Living trusts allow beneficiaries and trustees to avoid probate and distribute assets privately after death. They define heirs, trustees, and terms of distribution. - Revocable living trusts can be changed during the settlor's lifetime, while irrevocable trusts cannot. There are also several sub-types of living trusts. - Creating a living trust requires defining distribution of assets after death. They provide legal protection for passing ownership of assets. - Taxation of living trusts depends on whether assets are held or distributed before or after the primary trustee's death. Proper planning is required to minimize taxes.

1. Moneycation
Published by Moneycation™
Newsletter: March 3, 2015
Volume 3, Issue 5
Guide to living trusts
A living trust is a legal document that seeks to privately protect assets
in the event of death of the settlor or person who's assets are to be
transferred. Living trusts may be revocable or irrevocable, and each type has different legal
protections, and functions. Revocable living trusts are legal documents that define heirs and trustees
of a person's assets in the event of death. These documents can be changed to remove, add or adjust
heirs, trustees, and terms of distribution during the life of the settlor. The terms of a revocable living
trust can be changed at any time during the lifetime of the settlor, whereas an irrevocable trust's
terms cannot. This newsletter will discuss the creation of living trusts in terms of its purpose,
process, usefulness and type in addition to taxation of living trust income.
Basic Structure of a Living Trust
Image: Anja Bauer; CC BY-SA 3.0
The purpose of living trusts
Living trusts serve several purposes as made evident by the many types of living trusts available.

2. Essentially, living trusts are created by living persons to pre-determine who will distribute assets
after the death of the primary trustee and how it will be done. Living trusts provide legal protection
to the passage of ownership after death of the grantor.
• Allows beneficiaries and/or trustees to avoid probate court
• Trust owned trust companies make non-taxation of transferred funds possible
• Assigns a fund executor to carry out the provisions set forth in the living trust
• Defines how assets are distributed, to who they will be distributed and by whom
• Creates a legal entitlement to assets
During the lifetime of the settlor, the primary trustee may also be the settlor and in the case of
revocable living trusts, the terms of the trust can be changed anytime. However, after the settlor
dies, the trust becomes irrevocable meaning the terms cannot generally be changed thereafter.
Kinds of living trusts
As previously mentioned, the two primary kinds of living trusts are revocable and irrevocable, and
these types of trusts are distinguished by their ability to reverse decisions set forth by the initial
trust. For example, in a revocable living trust, trustees can be removed or added whereas in an
irrevocable living trust, this is not the case. However, in addition to these two primary trusts are
several sub-types of living trusts according to the Living Trust Network. Moreover, the following
trust sub-types determine how assets are used, allocated and treated when the terms and instructions
of the living trust are implemented.
• A/B Trusts
• Asset protection trusts
• By-pass trusts
• Charitable trusts
• Generation skipping trusts
• Grantor trusts
• Life insurance trusts
Creating a living trust can be done relatively easily, but takes a few important considerations
regarding the distribution of one's assets after death. These types of trusts come in several types as
outlined above and are ideally prepared by an attorney familiar with and skilled in the creation of
such documents.
To create less expensive living trusts, online legal trusts may be obtained through state specific
documents available through websites such as lawyers.com. When the purpose and use of the trust
is defined, the document is then customized, signed by the relevant parties such as the grantor and
trustees and then assets are legally reassigned to the trusts ownership.
Is a living trust a good choice?
Living trusts are not always a good idea. This is because the financial mechanism may not function

3. as it is intended unless it is implemented perfectly. In other words, if any assets that are to be
distributed are not within a living trusts terms, then the purpose of protecting financial information
is compromised because those assets not included may not avoid probate. The CPA Journal states
this point as follows:
“If an individual intends to use a revocable living trust primarily for probate avoidance
purposes, he or she must be impressed with the fact that probate will only be avoided if all of
the assets are owned by the trust at the time of death.”
Living trusts are not necessarily useful for avoiding taxes either. This is because assets distributed
via the trust must be reported as income for the same year during which they are distributed:
“Pursuant to IRC Sec. 645, all trusts, including revocable living trusts, must use the calendar
year as their taxable year for income tax purposes. Therefore, revocable living trusts do not
provide flexibility to defer taxation of trust income that may be accumulated for or
distributed to individual trust beneficiaries.”
Living trusts also have more potential disadvantages. For example, if the wishes of the settlor
change, or if new assets need to be added to the trust, the trust has to be modified. This becomes
costly is if a lawyer is consulted each time an adjustment to the trust occurs. Additionally, if trust
laws change following the creation of the trust, or if beneficiaries or trustees relocate, die or
otherwise become incapacitated, then the function of the trust may not necessarily be carried out as
intended. There may also be other types of trust that better serve the settlors financial objectives.
Alternatives to living trusts
Establishing and maintaining a living trust costs thousands of dollars. Unless an estate is so large
that these costs become relatively minor in proportion to the benefits, considering the alternatives is
wise. Depending on state law, the simplification of the probate process varies, which makes taking
location in to account an important factor in the estate planning process. For example, in Wyoming,
an estate valued at $200,000 or less qualifies for probate avoidance, whereas in Alabama, only
estates valued at $3,000 or less are able to bypass probate.
If an estate is above the state maximum for probate avoidance, the size of the state can be
minimized by transferring asset value to financial instruments that are not included in an estate. The
following alternatives to living trusts bypass probate and the costs of initiating a trust.
• Payable-on-death accounts
• Joint tenancy or accounts with rights of survivorship
• Insurance and pension beneficiaries
• Annual Gifts
• Notarized affidavit
Relocating assets to a state with more favorable estate laws and using a combination of legal tools
and financial mechanisms that are designed to protect assets from tax, public disclosure and state

4. intervention is an option that may prove worthwhile to one's heirs. Carefully examining the pros
and cons of each asset's legal classification and terms of transfer either individually or with the help
of a financial or legal professional may assist with accomplishing financial planning objectives.
When to use a living trust
Only the creator of a living trust can decide when or when not to use a living trust, but these
financial planning vehicles are known to be effective for specific purposes. According to the
American Association of Retired Persons, these reasons include times when individual asset
management is not easy or possible.
“A properly created living trust can be helpful if you need help managing assets during a
disability (and a power of attorney won’t work), if you have children or grandchildren with
special needs, or own real estate in more than one state.”
In addition to allocating the responsibility of asset management due to inability to do so, several
other reasons exist to consider using a living trust. These reasons are especially pertinent to high net
worth settlors who's large amount of assets themselves require enhanced financial management or
specialized oversight. Some factors involved in the oversight are the following:
• Privacy
• Expedited distribution
• Supplementation of terms within last will and testament
• Definition of specific asset uses
• Clarification of asset transfer terms
As the graph below illustrates, the tax cost of estates rises with value. This makes proper estate
management and financial planning especially important for higher income individuals and estates.
Moreover, living trusts are sometimes used to manage the taxable components of an estate in a way
that lowers the overall tax of the estate. For example, by deducting trustee fees as an expense, asset
management costs become a tax benefit when included in a living trust.
US Federal Effective Tax Rates by Income Percentile and Component
Source: Peter G. Peterson Foundation/Tax Policy Center; CC BY-SA 3.0

5. Taxation of revocable living trusts
Income earned through and distributed from a revocable living trust is taxable estate income and
may be taxed at higher amounts than regular income if it is reported on an IRS form 1041. Tax
avoidance is not the main purpose of living trusts within the U.S. although there are some tax
advantages that occur in certain instances of asset distribution. However, living trusts sometimes
have tax disadvantages as well. This is evident in the following statements from the Missouri Bar:
“Trusts must pay estimated income tax payments while a probate estate is exempt from this
requirement for the first two years. Trusts are also subject to other tax rules that do not apply
to probate estates...For instance, under current tax rules, a lifetime gift of an amount over the
annual exclusion amount directly from a living trust to a donee may be subject to estate tax if
the settlor dies within three years of making the gift. This three-year rule does not apply to
gifts made directly from an individual to a donee.”
Thus, how money or assets are allocated inside and outside the trust impact the tax advantages and
disadvantages that accompany those decisions. Carefully assessing how a trust will impact overall
tax strategy alongside other financial planning goals such as asset protection is worthwhile if not
essential to the estate management process. For example, according to the Law Offices of Craig E.
Berman, LLC, trusts established prior to August 5, 1997 do not qualify for the estate tax exemption
because they are not considered a part of the estate prior to that date.
Taxation of trust income during life of the trustee
The Internal Revenue Service considers revocable living trusts to be a "grantor trust" because the
primary trustee i.e. the owner and creator has the ability to retain, recall and revoke the trust.
Income earned from these trusts during the life of the primary trustee is taxable as income and
reportable through an IRS form 1041. The form 1041 instructions and guidelines for reporting
income in a revocable living trust can be found through the U.S. Internal Revenue Service.
Depending on the type of assets held within a trust, different tax forms and procedures may be
necessary.
To illustrate the above, charitable contributions made through a trust are reported on Schedule A of
the form 1041. The form 1041 instructions published by the U.S. internal revenue service indicate
higher taxation rates on income earned through a living trust than through a normal taxable income.
For example, income over $10.450 is taxable at a rate of 35%, any amount under which is taxable
at 25.8%. The same amount of income taxed as regular income would be taxable at a 15% rate,
$7,550.00 of which is currently taxable at 10%.
Taxation of trust distributions after death of primary trustee
Once the secondary trustee has distributed trust funds to beneficiaries listed in the revocable living
trust, the assets, assuming no liabilities, become taxable as estate property. To be taxable as an
estate, the value of the trust must exceed a government determined minimum amount, which is
currently over $1million.

6. If after the death of the primary trustee, income is still generated within the trust before distribution
of the assets within the trust takes place, the trust is taxable as income i.e. tax filings for the
deceases must be filed and any taxes due will be paid for either from assets within the trust or from
assets within the deceased's estate.
Tax avoidance, and tax fraud in revocable living trusts
According to the U.S. Internal Revenue Service, income within a revocable trust may be
"distributed to other trusts so long as they are named as beneficiaries within the trust". In other
words, to lower taxable income of a trust, the income can be spread around to a life insurance trust
or an AB Trust. What is not considered legal by the IRS is the illegitimate reduction of trust income
through false expense deductions.
Legitimate ways to lower taxation of living trusts include the above, optional tax reporting methods
that do not use a form 1041 and selective allocation of assets within the trust. For instance, assets
held within a Panamanian Corporate Trust that affords the primary trustee management privileges,
but not ownership, are essentially not owned by the individual and are therefore not subject to
taxation in the U.S. Moreover, international assets managed by the primary trustee are also exempt
from local taxation per the following statement by the Asset Protection Corporation; this is also
reiterated by the Society of Trust and Estate Practitioners.
“Panama's success as a tax haven is based primarily on its tax structure. According to article
694 of the Fiscal Code, income earned by any person, either an individual or a corporation,
from sources located outside of Panama, is exempt from taxes.”
In the U.S., a trust's assets may also qualify for estate tax exemption if it is below the state and/or
federal threshold for such. In 2014, the federal exemption threshold is $5,340,000 per the U.S.
Internal Revenue Service. Since the primary trustee can amend revocable living trusts at any time,
assets potentially subject to higher taxation can be added at later times to avoid potential higher
taxation if a form 1041 is filed.
Revocable living trust tax tips
The use of a revocable living trust may be a good legal strategy but in terms of taxation, these types
of "legal entities" may be best left to later years since the assets within a revocable living trust may
be taxable at a higher rate than if they were in another financial instrument. A few tips one might
consider before and after establishing a revocable living trust are the following:
• Consider alternative trusts: Trusts such as Life Insurance trusts can allow income to grow tax
deferred and in the case of estate beneficiaries tax free.
• State probate law: Since revocable living trusts are used primarily to avoid probate and to increase
privacy of beneficiaries, being familiar with the applicable state law may reveal certain advantages
or legal mechanisms that exist within the probate process.
• Trust assets: Certain assets within a revocable living trust may not incur income on an annual

7. basis and/or provide negligible tax deductions to normal income. Such assets may be placed in a
revocable living trust without disproportionate tax losses. Example of such assets may include
jewelry, and art.
• Form 1041 Instructions: Become familiar with the tax consequences and preparation time
associated with having a revocable living trust. If a revocable living trust must be used, consider
optional filing methods.
• Estate planning professionals: Consulting with an estate planning professional, whether it be a
financial planner, accountant or lawyer may be prudent especially in cases of large estates.
Revocable living trusts are subject to similar if not higher taxation than regular income unless
income within the trust is re-distributed to not taxable trusts. To file taxes on revocable living trust
income, an IRS form 1041 can be used, however the tax rates on income using this reporting
method are higher. In light of this using an optional tax reporting method illustrated by the IRS may
incur lower taxation.
Assets held within a revocable living trust become taxable as an estate after the death of the death
and distribution of the trust owner(s) and may still incur regular income taxes if the trust earns
income before assets have been distributed by the trustee(s). Becoming familiar with the purpose,
techniques, benefits and disadvantages of revocable living trusts may assist one in appropriately
reporting taxes as well as in the decision to list assets within such a trust.
Location of living trust assets
Depending on where the living trust is created and what it is intended for, the effectiveness and
creation of the document is subject to varying requirements and has potentially differing benefits.
This is because state laws that govern estates and trusts, and their taxation, vary enough to impact
the advantages and disadvantages of initiating and carrying out a living trust in each state. One such
instance is described by the Berman law firm below:
“The existence of the revocable trust may result in a decreased deduction for executor's fees
by the estate, since in many states, the compensation is based on the size of the estate, and
the compensation allowed under state law is one of the factors in determining the amount
deductible for federal tax purposes.”
Since some states have neither inheritance tax, nor estate tax; locating estate assets withing these
states has substantial potential value within an estate tax strategy. However, the taxable estate value
also differs between states, which means shifting assets from one state to another with no estate tax
may not be necessary, especially when inheritance tax is bypassed with suitable financial
instruments such as A/B trusts or generation skipping trusts. The Tax Foundation map on the
following page illustrates which states have inheritance tax, estate tax, inheritance and estate taxes
or neither.

8. Source: Tax Foundation; License non-commercial/royalty free
Another factor pertaining to location of estate assets and living trust assets is the frequency
with which state estate tax laws change. This makes active tax planning and annual
monitoring of estate regulations vital to the minimization of costs and expenses associated
with living trusts. Ashlea Ebeling of Forbes Magazine describes this obstacle in the excerpt
below:
“What makes this extra tricky is that state estate and inheritance taxes have been in constant
flux over the last decade. And it’s not just the list of states that has been changing, but in
some states, the level at which the tax kicks in has been changing (both up and down). So it’s
important to stay on top of this to avoid a surprise tax bill.”
This changeability of trust law should also serve as a warning or reminder that these legal and
financial mechanisms are not necessarily fool-proof. Moreover, living trusts are subject to an
array of stipulations, regulations and terms that may render their advantages minimal to useless
if not fully understood in terms of financial planning objectives.
Risks of living trusts
If a living trust is considered the appropriate legal instrument for the management of estate assets,

9. there are several risks that have the potential to negatively impact the effectiveness of the trust.
Furthermore, living trust risks often cause financial damage after a trust has been implemented,
which makes identifying and bypassing unwanted consequences prior to legalization just as
important as determining whether or not a living trust is the right estate planning tool to use.
• Illegitimate living trust services
• Improper legalese
• Mismanagement of trust assets
• Ineffective implementation of trust terms
• Overly high maintenance and set up costs
Avoiding risks is more likely after the background of a trust services provider has been
investigated. For example, business licensing, insurance and registration information in addition to
firm longevity, quality of service ratings and product or service terms of agreement are all relevant.
In addition, the choice of trustee may also have varying benefits. For instance, one trustee may offer
free or low cost maintenance and asset management costs, whereas another may not.
How to create a living trust
A living trust must be created in accordance with State and statutory federal law, and therefore is
ideally created by a lawyer licensed to practice law in that State. Sometimes free trust templates are
available online. However, any specific instructions or terms would have to comply with Uniform
Trust Code. There are several considerations and elements within a living trust that should be
included in the document and defined before its creation.
Living Trust Planning Process

10. 1. Define the purpose of a living trust
There are many purposes for living trusts, therefore defining the purpose will aid in choosing the
correct type of trust for that purpose. For example, in a generational skipping trust, assets are
passed onto grandchildren rather than children in the event of death of the grantor or primary
trustee. A more complete list if trusts can be found at livingtrustnetwork.com.
2. Locate a reliable living trust creator
Since living trusts can be complex especially in the case of large estates that will be divided in
several ways, consulting a licensed trust attorney in one's state of permanent residence can be
helpful. When choosing a source for the living trust be sure to ascertain the validity of the living
trust by confirming the following details:
• State(s) of effectiveness
• Compliance with State laws and/or regulation
• Appropriateness of trust to individual and/or family goals
• Proper terminology and listing of beneficiary, trustees and assets
When determining or verifying the validity of a trust, a note of caution is warranted in the case of
do-it-yourself trusts and trusts created by professionals not licensed to practice law or not
thoroughly familiar with the appropriate trust law. Kristine Kyllander of Advisor.com states the
quality of such trusts is more likely to be low and contain deficiencies.
“An alternative to the do-it-yourself method is to pay a few hundred dollars and use what is
commonly called a "trust mill." Sometimes these trusts are prepared by paralegals, and
sometimes they're prepared by what's referred to as certified document specialists. In any
event, these individuals have not been qualified to interpret the laws relevant to property
rights, taxes, wills, probate, and trusts in their state unless they've obtained a license from the
State Bar. Using this type of service typically results in a do-it-yourself-quality document you
paid someone else to do. “
Depending on the size and purpose of a living trust, the use of a trust service or living trust template
may or may not be justifiable. However, since these documents allow trustees to wield a notable
amount of authority over one's assets, close scrutiny of the means by which a living trust is created
makes sound financial sense.
3. Write the trust
When the living trust is written it will include several items and will likely need to be notarized to
become effective. Notarization may be performed by a licensed notary within an attorney's office or
independently at an external licensed notary such as a bank notary. Some typical elements included
in a trust are listed below.
• Type of trust i.e. revocable or irrevocable
• Sub-type of trust i.e. A/B trust

11. • Primary trustee/Grantor's name
• Secondary trustee(s) name(s)
• Asset list
• Distribution terms and allocation amounts
4. Transfer chosen assets into the living trust
After the living trust is completed, an additional step of signing over assets to the trust is necessary
to avoid legal complication. This means ownership of all assets within the trust must become part of
the trust. For example, a home's title deed can be signed over to the trust, bank accounts can be
changed to list the trust as the owner etc. There may or may not be filing fees for some of the
reclassification of assets.
Living trusts and estate planning
The assets within a living trust are part of an estate, but an estate does not necessarily include living
trusts. In other words, living trusts are estate planning tools that are used alongside Wills
(particularly pour-over wills), power of attorney and affidavits. Living trusts are also only able to
include specific assets, which means not all assets will necessarily avoid probate unless alternative
transfer or beneficiary arrangements are made. According to Nolo, the following assets cannot or
are more difficult to be include in a living trust:
• Retirement accounts
• Cash money
• Vehicles
• Short-term investments
• Closely held corporations
Asset protection
If asset protection is a substantial concern in estate management or financial planning, a living trust
might not be the best mechanism to use. This is because protection from creditors is more easily
accomplished with other financial vehicles such as insurance polices, individual retirement
accounts and homesteads. However, some trusts such as as asset protection trusts do provide
protection from creditors when the terms involve a limited liability corporation. In any case,
carefully defining financial planning goals before establishing and placing assets in a living trust
makes sense in order to maximize asset protection, lower tax costs and accomplish estate
management objectives.
Trustee removal
An important living trust clause that should not be overlooked is the “trustee removal clause” per
USA.gov. Moreover, trustees do not have to be family members or close friends, but instead a legal
or financial professional or department of a financial institution. This clause and others, and the
state case law surrounding interpretations of omitted trust phrases, form a core basis from which the

12. effectiveness of a living trust is determined. Taking the time to think out current and future financial
events, in so far as that is possible, is also pertinent to the creation of a living trust, how it is used
and its overall benefit in financial planning.
Medical planning
Even though living trusts provide for proper financial management of the settlor or primary trustees
belongings when medical incapacity emerges, the trust does not necessarily determine how the
medical state and treatment of the settlor should be handled. This is due in part to other laws
pertaining to medical treatment, but also because lack of authority within the trust since it primarily
pertains to monetary matters. According to the Texas Attorney General, documents such as medical
power of attorney, advanced medical directive and do-not-resuscitate orders clarify how an
individual is treated medically in the event of uncertain or sudden healthcare events. These
documents also help ensure that distributions detailed within a living trust will not be liquidated
and/or used for other purposes ahead of time.
Supplemental Security Income
Although it is not necessarily a common concern, estate planning that accounts for Social Security
payments to trust beneficiaries is also affected by living trusts. More specifically, when personal or
settlor assets are used to establish or maintain a trust created after January 1, 2000, the trust is
considered a resource by the U.S. Social Security Administration. In other words, living trusts are
not excluded from Social Security net worth calculations; this is of particular relevance to heirs or
trust beneficiaries who's total asset's value is near the qualification maximum for supplemental
security income.
Conclusion
The more complex an estate is in terms of asset diversification, management expectations and
distribution objectives, the more pertinent a carefully crafted living trust becomes in terms of its
overall financial benefit and functionality. Similarly, the net value of an estate, in addition to the
location of assets within that estate, also impact the potential benefit of a living trust. Due to the
many variables that affect the usefulness of a living trust, careful consideration and/or professional
consultation are a justifiable expense, especially following the determination that a trust is a
valuable financial tool that is worth its costs.
Having said that, living trusts are useful for high net worth individuals or estates that are seeking to
supplement their wills with more specific asset management criteria. They are also useful in times
of medical disability since primary and secondary trustees can be assigned ahead of time; this
ensures assets will be distributed by a person or entity with fiduciary responsibilities following the
death of the settlor or primary trustee. In some cases, living trusts do provide tax protection.
However, that tax planning element is closely tied to the laws governing the trust, the kind of trust
and where the trust is located. An element of identity protection and financial privacy is also
available via living trusts, which make them particularly useful when asset transfer information has
broader repercussions either personally or commercially.

13. Due to the often fluid nature of individual and household finances, establishing a living trust too
early in one's life is not always a good idea. This is because the trust needs to be amended when
new assets are gained and because the financial objectives carried out withing the trust are also
subject to alternation over time. Trusts are particularly suited for estate management because they
help ensure financial legacy and family financial interests after death. They also reduce the risk that
assets will be appropriated in a way not specified in a will and not in the interest of the settlor and
trust beneficiaries.
Sources:
1. “New York University Law Review”; The Functions of Trust Law: A Comparative Legal and Economic Analysis;
Henry Hansmann and Ugo Mattei; May 1998; (Online PDF)
2. “National Conference of Commissioners on Uniform State Laws”; Uniform Trust Code; 2010
3. “Edward Jones Trust Company”; Fundamental Duties of a Trustee: A Guide for Trustees in a Post-Uniform Trust
Code World; October 6, 2008
4. “NOLO”; Wills, Trusts, Living Wills, Estate Tax, Probate & Estate Planning; 2014
5. “Uniform Law Commission: The National Conference of Commissioners of Uniform Law”; Trust Code Summary
6. “USA.gov”; Trusts; July 1, 2014
7. “Oregon State University”; The Role of Trusts In Estate Planning; Harold J. Weight; 2001
8. “Iowa State University”; Trusts as an Estate Planning Tool
9. “Tax Foundation”; Estate and Inheritance Taxes in 2014; Liz Emanuel; May 28, 2014
10. “Cornell University Law School”; Estates and Trusts
11. “Investopedia”: Advanced Estate Planning: Using Trusts
12. “University of Houston Law Center”; U.S. Trust Law and Income Taxation; August 5, 2010
13. “Find Law”; State Laws: Estates & Probate
14. “University of California at Berkeley”; Uniform Acts, Restatements, and Trends in American Trust Law at
Century's End; California Law Review; Volume 88, Issue 6; Edward C. Halbach Jr., December 2000
15. "The New York Society of CPAs”; Revocable living trusts compared to wills, a second look; CPA Journal; Charles
E. Muller III; August 1990
16. Yale Law School; “The Restatement of the Law of Trusts, 1st
Edition”; Thurman W. Arrnold; 1931
17. “New Jersey Appellate Law”; Has the Supreme Court Rejected the Restatement (Third) off Trusts?; Bruce D.
Greenberg; December 9, 2011
18. “Fidelity Investments”; What is a Trust?; 2014
19. “Royal Bank of Canada”; Frequently Asked Questionss: Trusts
20. “The American Institute of CPAs”; The Income Taxation of Trusts and Estates; Jacquelin A. Patterson, Esq. ;Haney,
Bucchanan & Patterson, LLP; Jacqueline A. Patterson
21. “U.S. Internal Revenue Service”; Instructions for Form 1041 and Schedules A, B, G, J, and K-1; 2013
22. “NOLO”; Why You May Not Need a Living Trust
23. “The Missouri Bar Foundation”; What is aA Revocable Living Trust?
24. “Kiplinger”; Why You Don't Need a Living Trust; Sandra Block; June 2013
25. “360 degrees of Financial Literacy”; Bypassing probate
26. “Cornell University Law School”; Probate – State Statutes
27. “LegalMatch Law Library”; How Probate Works: A State Comparison; Pavel Leshchinskiy
28. “New York Times”; Pros and cons of living trusts; Jay Romano; November 20, 2005
29. “AARP”; The truth about living trusts; April 2010
30. “Iowa State University”; Trusts as an Estate Planning Tool
31. “Giamarco, Mullins & Horton, P.C.”; The Five Levels of Estate Planning;
32. “U.S. Internal Revenue Service”; Estate Tax
33. “The Law Offices of Craig E. Berman”; Revocable Living Trusts
34. “Forbes”; Where Not To Die in 2013; Ashlea Ebeling; January 28, 2013
35. “Society of Trust and Estate Practioners”; The forgotten trust; Juan F. Pardini; November 2010
36. “Asset Protection Corporation”; Panamanian Trusts – Review of choosing Panama as a jurisdiction selection
37. “Nolo”; What Property to Put in a Living Trust

14. 38. “Legal Zoom”; A Guide to Living Trusts: How to avoid probate costs & protect your family's future with smart
estate planning
39. “Texas Attorney General”; Estate and advanced care planning
40. “U.S. Social Security Administration”; SSI Spotlight on Trusts
41. “Hawkins Media, LLC”; 5 Key Steps to Creating a Living Trust; Kristine Kyllander
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