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Revocable living trust. Drawn up correctly, this makes it easy to keep control of your finances today, let a trusted person step in if necessary, and ensure fewer problems for your heirs when you die. Now, if you just saw the word “trust” and thought, Oh, Suze, that’s just for rich people, you couldn’t be more wrong.
If you have a living revocable trust, you can avoid probate entirely. The person you appoint to take over managing your trust will simply follow the instructions you laid out in the trust document to distribute your assets.
Jul 12, 2024 · On the “Suze Orman’s Women & Money” podcast that aired on July 11, Orman responded to a caller whose attorney advised that there is no reason to get a living revocable trust. The attorney recommended using probate instead.
Jul 16, 2023 · Suze: You, if you create the revocable trust, you are known as the trust store and you have the ability to modify that trust, amend that trust, revoke the trust, do anything you want during your lifetime.
Jul 15, 2024 · A revocable living trust (or a revocable inter-vivos trust) provides flexibility for the grantor to manage their assets during their lifetime. They can change or revoke it at any point while they’re alive.
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Understanding Living Trusts. by Vickie and Jim Schumacher. Los Angeles: Schumacher & Company (1800 Century Park East, Suite 1250, Los Angeles, CA, 90067; (310) 859-0800),1990. Suze Orman shares everything you need to know about wills and trusts and the difference between a will and a trust.
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Apr 19, 2024 · These specific documents are a will, a living revocable trust, a durable power of attorney for healthcare and an advance directive.
