What is a Revocable Living Trust? | Estate Planning 101

Attorney Thomas B. Burton answers the question "What is a Revocable Living Trust?" Attorney Burton discusses Revocable Living Trusts or "Living Trusts" and explains many of the most common terms you encounter when dealing with Revocable Living Trusts as part of an estate plan. Inside this video, Attorney Burton addresses many frequently asked questions about trusts, including all of the following:
1. What is a Trustor, Settlor, or Grantor?
2. What is the Trustee and what do they do?
3. What assets should I place in my trust?
4. How does the Trust help avoid probate?
5. What is a Pour-Over Will and why do I need it?
6. How does the Trust distribute my assets after death?
This video is a good overview of the trust planning process and a great video to watch before you meet with the estate planning attorney of your choice, in order to be more educated about the trust planning process and to enable you to understand some of the terms your lawyer may use with you at this meeting. As an Attorney myself, I understand that sometimes we lawyers use words from the trust and legal world with which we are familiar, but which are very obscure to regular folks. Due to our years of legal training, we sometimes forget to define these terms before using them with the public or with our clients, so I wanted to make this video as an educational tool to help everyone understand these terms better. When making this video I even had to force myself to think about the most common terms I use at my estate planning design meetings, in order to come up with this list of terms that I think you will encounter most frequently. I decided to use a legal pad to write out a few terms and try to lay it out in a visual manner (as I often learn best with visual aids). If this video was helpful to you, let me know in the comments below and consider liking and or subscribing to my channel to help others see this video as well.
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[@BurtonLawLLC]

Want to know what type of estate planning documents are best for your situation? Download a free copy of my easy estate planning guide. ➮ Obtain Your Free Will vs. Trust Estate Planning Guide here: bit.ly/3jxgz3R

[@danrowe79]

Great explanations - Thank You!

[@reginaldsaffold548]

Thank you for not speaking 500 miles an hour like most other content creators. Your metered deliberate articulation allows me to hear and understand EVERY word.

[@BurtonLawLLC]

Thanks for your kind comment and for tuning in!

[@barbarapeehl1528]

Both of my mom and dad are gone now. And my dad had a will.and my brother is the power of attorney. And he will not let me see my mom and dad's will ,and my dad and mom has a revocable trust. And I just received the trust now it is 31pages, and it doesn't say anything what we get, it just says gift, so I don't understand. Will a Lawyer call me and tell me what I get. My dad had a Minnesota life insurance policy and my dad left us money and I don't know what happened to the money ❤ it says nothing of what 10 kids get on the trust