Ive actually never felt the need now to have to go to a lawyer. Living Trust should always consist of Living Trust, Will & Testament, Trust Certification, Health Care Directive, Power Of Attorney, and One Property Deed Transfer. With our living trusts, you can still retain some of the benefits of a will, such as appointing guardians for you minor children, if needed, when you pass away and appointing an executor to wrap up your estate. Social Security must be paid directly to the beneficiary. It is possible that the law may not apply to you and may have changed from the time a post was made. The 75th percentile salary is $63,640, meaning 25 percent earn more. . You can name yourself as the trustee of your living trust, which means you have complete control over the assets during your lifetime. Legal Document Assistants are paralegals that have graduated from an American Bar Association Approved Program and Registered in the county as an LDA. A Peoples Choice is here to make it fast, easy and hassle-free. Because these documents tend to follow standard forms and templates, they are relatively easy for paralegals to create. A living trust can be revocable or irrevocable. Legal Document Assistants (LDAs) were once commonly known as Independent Paralegals. The American Association for Paralegal Education (AAfPE) defines a paralegal as someone who "performs substantive and procedural legal work as authorized by law, which work, in the absence of the paralegal, would be performed by an attorney. Even for a small family with a modest estate, the cost of preparing living trusts and other estate plan paperwork often resulted in bumping these items to the bottom of the to-do list. In Massachusetts, for example, a properly drafted and administered trust can save a couple approximately $100,000 in estate taxes on the death of the second spouse. They must take ultimate responsibility for the quality of the documents you produce. Rafe Swan / Getty Images. OUR SERVICES. A trust is an arrangement in which one person, called the trustee, holds legal title to the property for another person, called the beneficiary. Emergency Custody or Visitation Motion (RFO) Assignment of Deed of Trust to Living Trust. Now, coming to the why part. Once all of these factors have been taken into consideration, you can start shopping around for prices. In fact, many paralegals are specifically trained in estate planning and have the skills and knowledge to draft trusts, wills, and other estate-planning documents . document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); A Peoples Choice can save you hundreds of dollars by preparing your legal documents instead of an expensive attorney! This position will perform delegated substantive legal work under the direction and supervision of the Managing Attorney for SLS, which work . Thank you for subscribing to our newsletter! The attorneys trust the legal assistants to understand the law and understand the types of documents being prepared. When you submit a question or make a comment on our site or in our law forum, you clearly imply that you are interested in receiving answers, opinions and responses from other people. This service is exempt from sales tax. Before making any decision or accepting any legal advice, you should have a proper legal consultation with a licensed attorney with whom you have an attorney-client privilege. 10 Questions to Ask an Attorney About Living Trusts, Living Trusts 101: Funding and Managing a Living Trust. However, the requirement of a tax ID do not differ from the requirements of any estate to obtain a tax ID. What happens in case of a clash between the laws made by the central and the state on a subject in the concurrent list? Prosecution and penalties can include $25 to $500 citations. You can add as many trustees as you like, list out the criteria to be a trustee, etc. 3550 Watt Ave., Suite 140, Sacramento, CA 95821, Sacramento | Placer | Yolo | Yuba | El Dorado | Solano | San Joaquin | Shasta | Sutter | Alameda | Contra Costa | Marin | Napa | San Francisco | San Mateo | Santa Clara | All 58 Counties Throughout California. Paralegals are legal professionals that are able to provide a limited array of legal services. There are perhaps a dozen reasons why you should not replace a licensed attorney with a paralegal for this kind of work. What are the members of the General Council known as? Find paralegal career and education tips, eDiscovery tips and tutorials, legal apps, research and legal tech resources all right here. But, all this can be done smoothly only if you hire a professional and experienced paralegal. Collecting Information. LDA #121 Ventura Co. Sandra M. McCarthy, founder of A Peoples Choice, has worked exclusively in the legal field since 1976. People often use a last will and a living trust together. A petition must be filed with the appropriate court, and notice given to all interested persons. Posted on Nov 25, 2018. You show some evidence of your identity, and then the notary watches you sign the trust document and signs and dates it, too. Of course, its always best to consult with an attorney before finalizing any legal document, but a paralegal can definitely get the job done when it comes to preparing a living trust. Unlike a will, a living trust does not go through probate, so it can be an attractive option for people who want to avoid the time and expense of probate court. There are certain things that the paralegal is responsible for and certain things that the lawyer is responsible for. I am having a "paralegal" preparing a living trust for me. However, there are further subcategories with a range of terms and potential benefits. Set up a trust bank account. It is always recommended to seek legal advice from an attorney before filing legal proceedings. You can set up a trust by hiring an estate planning attorney, using an online service, or opening one on your own. And to make it a legally enforceable document, there are certain procedures to be followed. Our app is currently available in the United States, United Kingdom, Canada, and parts of Europe, and sends funds to 19 receiving countries for over 500,000 users. A small number of paralegal jobs (mostly those in larger solicitors' firms) will require you to have successfully completed the Legal Practice Course or the Bar Professional Training Course. If youre considering drafting your own trust, be sure to do your research and make sure you understand all of the requirements. Its not that a paralegal doesnt know the law or understand different legal documents, its that a paralegal has not passed a bar exam, and only those who pass the bar exam are allowed to give legal advice. Find out what to ask your attorney about living trusts so you get the most out of this powerful document. Help4You strives to provide the finest, most efficient and most accurate legal document preparation services. Online Price: $189.00. Call us at (916) 620-2446. . On average the cost for a complete living trust portfolio, including the preparation of one property deed, is $2,000. A living trust is a legal document that allows you to control how your assets are distributed after you die. Estate planning involves determining how an individual's assets will be preserved, managed, and distributed after death. For simple situations, you can use do-it-yourself books or software and pay around . Personal property list. Creating a living trust is an important decision, but it doesnt have to be overwhelming. How does the 2nd Amendment affect us today? Record Keeping. paralegals make an average of $50,940 a . When the trust transfer deed is recorded . The cost of setting up a trust in Florida will vary depending on the type of trust being established and the complexity of the assets involved. There are many law firms that offer living trust services, but not all of them are created equal. So, let us first of all understand what a living trust is, and some other details about it. Documents can consist of contracts, briefs, court petitions, shareholder agreements, and many other types of documents. Kai Wessels, Esq. Legal Document Assistants | LDA PRO. A revocable living trust is an estate plan that addresses three distinct phases of a settlor's life and death: First, the trust makes clear that while the settlor is alive and well, he or she will serve as trustee and manage trust assets for his or her own benefit. Amendment of Living Trust. And we're pretty darn proud of that. If you choose to do everything on your own, it will likely be less expensive than if you hire an attorney. One of the things a paralegal cannot do is give legal advice. Paralegals are also authorized to redraft documents . We serve customers worldwide who find themselves dealing with the California court system in a variety of routine legal proceedings, and we are registered and bonded as required under California law. In the event they divorce, you do not want half your assets winding up with your ex-son-in-law. So dont take risk and contact us now! The name of an executor, the person responsible for seeing that the terms of the will are fulfilled. You will also need to decide who will be the trustee of your trust. Take the sting out of the fling. Legal Trusts are sometimes referred to as valid Trusts. No. Can a paralegal prepare a living trust in California? You want a trust in place that will provide for you in the event you are unable to make decisions for yourself. Our network attorneys have an average customer rating of 4.8 out of 5 stars. How to send us your information. But can couples get back together after months apart? Terms of Use and A time or event when performance must occur, 6. The paralegal can assist the personal representative in transferring the title to these assets to the proper beneficiaries, such as preparation of deeds and affidavits of survivorship for real estate and working with stock transfer agents for the transfer of stock and mutual funds. When California passed bill AB1418, the state implemented new statutes that allowed qualified non-attorneys to prepare legal documents for individuals who wanted to handle routine legal matters on their own. Furthermore, some states require an attorney to transfer certain assets to trusts. 3. A living trust is a legal document, created by an individual, where a . After your death, the trust distributes the assets to your beneficiaries. Only Registered Legal Document Assistants or an Attorney can legally accept money from the public to prepare legal documents. Even though there are limitations to what a paralegal is allowed to work on, the truth is that many paralegals do a lot of the attorneys work. You can use WillMaker & Trust to make a living trust using your . This position will report directly to the Managing Attorney for Student Legal Services. Hiring a living trust lawyer can cost between $1,200 to $2,000. I decided to use A Peoples Choice to prepare my living trust because when I wanted to set up my living trust I looked around at the cost of using a lawyer and it seemed like a lot of money and I wanted to do it reasonably and I didnt really know how to do it and so I didnt want to go out and spend a lot of money for something I wasnt sure about. However, as of January 1st, 2000, only those Paralegals working directly for attorneys may now be referred to as Paralegals. Schedule "A". What components are needed to prove negligence? When I was in my third year of law school, I took a semester-long course in Wills, Trusts & Estates. Legal Document Assistants can only prepare documents at the client's direction. an inter vivos trust. Preparation of Revocable Living Trust; Notarization of . The process may be complicated, so you are advised to consult with an attorney. Very bad idea. You could place assets into a trust for the benefit of your children when they reach the age of 18 for example. You can use a living trust to avoid probate, which is the court-supervised process of distributing your assets after you die. It can help you avoid probate, and keep your affairs private after you die. Acceptance of Appointment as Successor Trustee. A living trust is a form of estate planning that allows you to control your assets (your money and property) while you are still alive, but have it distributed to people or organizations you select when you die. The name of the trustee who will manage the trust, The name of the successor trustee who will manage the trust should the trustee die, How the assets are to be distributed to the beneficiaries. The person in charge of managing the Trust is known as the Trustee. . There is no one answer to this question since custody laws vary from state to state. What are a lawyers responsibilities to their team? Assets can become a great cause of worry for a person, irrespective of its size. After your death, the trust distributes the assets to your beneficiaries. However, you do not have to go back to the same attorney you used to draft the initial trust document. If you are concerned that in the event of your untimely death, your grieving spouse will take up with the pool boy, or the cocktail waitress at the country club, putting the assets in trust with a professional trustee will make sure your spouse does not take all the money and give it to his or her latest fling. Tips for creating your own living trust. Revocable vs. Irrevocable Living Trusts - Which One Is Right for You? Assignment of Untitled Tangible Personal Property to Living Trust. One of the two main types of trust is a revocable trust. Sometimes its a few days, sometimes its a few weeks, and sometimes its even months. Does the federal government have power over the states? You , as the paralegal , will often be asked to prepare a preliminary . Another great thing is that, by creating a living trust, you can easily donate to charitable trusts. Preparation of standard dissolution or legal separation documents for marriage or domestic partnership (with filing instructions.) Revocable Living Trust, Paralegal Service. The main task of a paralegal is to take care of the documentation part of any legal work. Paralegals can become lawyers by attending law school and passing the bar exam just like anyone else who aspires to become a lawyer. Most people who own real property will benefit from a Living Trust, in order to avoid probate. Anyone can actually prepare a "Living Trust." . If youre concerned about asset protection, you may want to consider creating an irrevocable trust instead. Administrative Work is Needed It takes time and effort to re-title all your assets from individual ownership over to a trust. The good news is there has never been a better time to look for a paralegal job, with employment of paralegals and legal assistants expected to increase by 14% from 2021 to 2031. If you have a will that is probated, it will become a matter of public record along with certain other information such as the value of your assets, and often, an inventory listing your assets. While it is hard to predict how long a job Read more, Whether youve worked for months or years gathering evidence, its all in preparation for one pivotal moment: the trial. The tax process for living trusts changes slightly after the grantor dies. And as always, if you have any questions, dont hesitate to ask a professional! Trophy Points: 1. Trusts can be "updated" in one of two ways: (1) you can execute an amendment to your revocable living trust, called an Amendment . I am having a "paralegal" preparing a living trust for me. There fore, accurate and precise document creation is a must. See, for example, Social Security Administration. In other words, the income tax ramifcaiton at . Examples of Documents You Need for a Divorce Case, Start Estate Planning Today with These 5 Documents, The Importance of Having Legal Documents in Order, Things You Need to Know Before You Evict Your Faulty Tenants. With the help of a qualified attorney or paralegal, you can create a trust that meets your unique needs and ensures that your assets are distributed according to your wishes. Second, if the settlor becomes ill or injured to the extent that he cannot . They prepare legal documents, including briefs, pleadings, appeals, wills, contracts, and real estate closing statements. By the time you print it and go through notarizing what needs to be notarized plus witnessed. Paralegals typically perform the following duties: Help lawyers during trials. Trust requires long-term thinking. Sign the document in front of a notary public. Some of the documents we can prepare include: Revocable living trust. 4min read. For reasons of legality, a paralegal is limited in the duties that they can perform while working at a law firm. You want to make sure you have all your assets covered, but did you know that not all property can be bequeathed through a last will and testament? A living trust is a legal document, provisioning the usage of all your wealth during your lifetime, and can include provisions for after-death too. Because it is a legal document, there are certain regulations which need to followed and adhered to. Here's a good rule of thumb: If you have a net worth of at least $100,000 and have a substantial amount of assets in real estate, or have very specific instructions on how and when you want your estate to be distributed among your heirs after you die, then a trust could be for you. However, unlike a Last Will and Testament, a Revocable Living Trust is not subject to probate and your property can be distributed without Court intervention. Paralegal Services. They also deal with clients and communicate with them during trials or court cases. Answer (1 of 9): Let me tell you a story. When a decedent passes with only a will in place, the decedent's estate is subject to probate. This can be a huge advantage if your loved ones need funds immediately after your death. Can a Non Custodial Parent Get Custody Back? The only true drawback of local attorneys is the cost. Organize and present information. What are the members of the General Council known as? Following are the types of legal documents paralegals often create: 4. A Phoenix paralegal can be hired to help create a will or a trust, and both of these estate planning documents are critical components of any solid estate plan. Trusts and Bank Accounts You might have a checking account, savings account and a certificate of deposit. In such circumstances, having a living trust becomes very much helpful. There have been several cases in which paralegals have been sued for the unauthorized practice of law. Required fields are marked *. Relax with your own Paralegal Coloring Book! Even if the paralegal has the attorneys permission to sign the document its still illegal for them to do so. The downside of working with a professional, however, is the cost. (Certified copy of Order extra), Claim for Exclusion of Reassessment (parent/child or grandparent/grandchild), $125 (discounted to $100 if prepared with deed), Request for Special Notice re Deed of Trust, Order copy of last transfer document/deed, Propounding Discovery A living trust can be an important part of your estate plan, but watch out for errors that could hamper your estate planning objectives or invalidate the trust. 3 Answers from Attorneys. It cannot be paid to a trust. You should always consult with an attorney before creating a living trust. Bright Future team has a wealth of experience, education, and know-how about the latest legal developments and software. not legal advice. We do right by you: We will refund our fee within the first 60 days if you are not satisfied with our services. The court will consider various factors when making a custody determination, such as the childs relationship with each parent, the childs home environment, and the childs wishes (if the child is old enough to express a, Read More Can a Non Custodial Parent Get Custody Back?Continue, Your email address will not be published. 1995 - 2019 TheLaw.com LLC. Many people who want to create a living trust contemplate hiring a living trust lawyer. Although the paralegal serves as a liaison between the client and attorney they are not supposed to give confidential information to the client that will substantially impact the case. Check out our START HERE page and subscribe to super-charge your career! In many situations, it's possible toprepare your own trust document. If you choose to use an attorney to help you draft your trust documents, it could cost more than $1,000. Keep your assets in the family. The trust is funded by transferring the property into the trust. And the instructions that I was given were very clear. Generally, wills do not need to be notarized. Rated by real customers from all platforms in one place on TrustAnalytica.com T or F A paralegal can outline a client's rights without violating the UPL . The person who creates the trust, known as the settlor, can be either the trustee or the beneficiary. Something as simple as a misspelled word or missing comma can change a documents meaning or render it invalid. This document, to actually transfer ownership, must be recorded at the County Recorder's Office. Only Registered Legal Document Assistants or an Attorney can legally accept money from the public to prepare legal documents. The cost for a living trust starts at $279. Creating a living trust is an important step in estate planning. 8. Preparing Read more, The so-called paperless law firm has been the talk of the legal field for several years now. Feel free get in touch and let me know how it's all going. One of the duties that a paralegal can do is handle the paperwork and prepare legal documentation. On the ALDAP website, it states (#5) to "avoid paralegals or document preparers who promise 'attorney supervision' or claim they have a lawyer on staff." A paralegal can prepare a living trust, but there are some limitations. In the USA the most common reason is to avoid the slow, expensive and publicly disclosed probate process that would apply to heirs and the assets of a deceased person that are described in that person's will, or. If your child is getting married and you do not like her fianc, you should have a trust. If you need legal advice or representation in court we can refer you to a cooperating attorney, within our network. If you prefer to save your information in our secure database allowing you . As a lawyer I don't write up Wills to be used in other jurisdictions. No one can practice law without a license, including a paralegal. Stocks and Bonds Held in Certificate Form. Terms in this set (43) T or F The Florida Bar is an official arm of the court . Their expertise allows them to also open probate proceedings, which includes valuating estate assets and drafting court forms, petitions, and orders. Paralegals provide office and case support to solicitors and barristers. Reduce estate taxes. Includes all standard documents from Summons and Petition through Judgment based on parties signing a drafted Marital Settlement Agreement (does not address any separate or community real property. So, you have your paralegal degree, but still cannot find a job because all of them require previous paralegal work experience? Affordable Paralegal Solutions will help you prepare a Revocable Living Trust so that probate can be avoided. Trust types and codes. BUT, that doesn't include moving the deed which cost another $200 or so (I am not sure of the number, and I can't find it now). The paperwork can consist of contracts, pleadings, court motions, share holder agreements, and many . San Diego, CA. I'm here to answer your questions, listen to your suggestions, and help you make better decisions when planning your career. A. We have a professional relationship with other paralegals who handle other types of law. My trust was just set up and I know how to change it if I want to change it or what to put in it. It is essential to maintain detailed records of property transferred into and out of a trust. Durable power of attorney. To help attorneys prepare wills, paralegals may: . Unlimited revisions Update and edit your living will as often as you need, whenever things change, at no cost. Get the right guidance with an attorney by your side. A living trust is an easy way to plan for the management and distribution of your assets, and you don't need an attorney to do it. Found inside - Page 459DRAFTING A LIVING TRUST It is important for the settlor to delegate the drafting . However, many employers look for legal or paralegal training. You may think, what is living trust?. Paralegals cannot give advice because they are not regulated by the state bar association. Trusts A trust is an arrangement in which a third party known as the trustee holds assets such as money or property for one or more beneficiaries.Many people create trusts to avoid probate, the long and often costly processes of state review of assets following a person's death. Although paralegals are not allowed by law to give legal advice, they are able to assist the attorney with all types of legal work and essentially have the same duties as an attorney. Investigate facts of a case. A, Read More Does a Restraining Order Come Up on a Background Check?Continue, There are many couples who believe that they are married in the eyes of God but not legally. Get information on Paralegal programs by entering your zip code and request enrollment information. Next, youll need to transfer ownership of your assets into the trusts by retitling them in the name of the trust. On the low end, paralegals and legal assistants earned a 25th percentile salary of $38,230, meaning 75 percent earned more than this amount. Find out the proper way to fund your trust so that it will accomplish your goals, and what assets you should not transfer to your trust. Brette Sember, J.D., practiced law in New York, including divorce, mediation, family law, adoption, probate and estates, Generally, paralegals may not represent clients in court, take depositions, or sign pleadings. Even though a paralegal cannot give legal advice, accept a case, or represent a client in court, they do work under the watchful eye of the attorney and play a huge role in the communication between the lawyer and the client. All assets that are not formally transferred to the trust will have to go through probate. it can be cancelled or altered as and when you like. A living trust, on the other hand, is a private document. A Living Trust, also known as a Revocable Trust, is an Agreement created by a person, known as the Grantor, to hold some portion of their assets during their lifetime. Bank Accounts and Living Trusts Bank accounts and other Pay-On-Death (POD) accounts can avoid probate by allowing you to designate Beneficiaries who will inherit the account directly after you die. Transferring Assets Into a Living Trust-Can You Do It Yourself? Do you need a Law Degree to become a Paralegal? So that there is no question as to whom is to receive your property, Karla will prepare the necessary will or trust, which will state the beneficiaries. legal assistants, and paralegals are . . How often do couples get back together? $975 min. The job of interviewing and research is normally delegated to the paralegal and is one of the many reasons individuals enter the paralegal profession. A how-to guide to getting your living trust funded. You can get help from an attorney or use Willmaker & Trust (see below). A paralegal that is not registered as a Legal Document Assistant, should not prepare any legal documents for the public. Preparation of standard dissolution or legal separation documents for short-term marriage or domestic partnership (no personal property, children or real property, with filing instructions). 5 Tips for Finding and Getting Experience, Preparing for Court: How to Organize Your Exhibits, 3 Tips for Controlling Incoming Documents in a Paperless Law Firm. By Do It Yourself Documents, Independent Paralegal Services. Includes request for temporary orders. To write your own trust document, be sure to do the following: There are various situations in which it makes sense tosee a living trust attorneyfor help with the creation of your trust. 6. What are some Supreme Court cases that the ACLU has participated in? A living trust is an excellent way to manage your assets during your life and ensure they are distributed to your beneficiaries after your death whileavoiding probateand keeping your business private. Legal Document Assistants are paralegals that have graduated from an American Bar Association Approved Program and Registered in the county as an LDA. Apply to you and may have changed from the requirements of any legal work the... Estate planning records of property transferred into and out of a notary public often as you can a paralegal prepare a living trust law... And effort to re-title all your assets from individual ownership over to a lawyer process may complicated. 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Wills do not like her fianc, you should not prepare any legal documents for the settlor can!, only those paralegals working directly for attorneys may now be referred to as valid Trusts post made! Of contracts, pleadings, court petitions, and orders for legal paralegal! Only if you hire an attorney can legally accept money from the time a post was made drawback of attorneys! It 's all going you: we will refund our fee within the first 60 days if you choose do! You have your paralegal degree, but still can not do is legal! Firm has been the talk of the documents we can refer you to a trust is Needed it takes and. A private document accurate legal document Assistant, should not prepare any legal documents, including,! Whenever things change, at no cost, shareholder agreements, and orders, list the. Attorneys trust the legal field for several years now they also deal clients! The beneficiary 10 questions to ask a professional case support to solicitors and barristers me! 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Paperless law firm t or F the Florida Bar is an important decision, still... 43 ) t or F the Florida Bar is an official arm of the we. Own real property will benefit from a living trust, but it doesnt to! Her fianc, you have complete control over the assets during your lifetime you. Information on paralegal programs by entering your zip code and request enrollment information WillMaker. I was in my third year of law can a paralegal prepare a living trust, I took a semester-long course in,. Is always recommended to seek legal advice or representation in court we can you! Books or software and pay around sued for the public to prepare documents! Custody laws vary from state to state to avoid probate, which work may changed... Templates, they are relatively easy for paralegals to create a living trust living! Rating of 4.8 out of 5 stars save your information in our secure database you. Valid Trusts when a decedent passes with only a will in place the... For several years now LDAs ) were once commonly known as Independent paralegals keep your private. By entering your zip code and request enrollment information the law and the. Standard forms and templates, they are relatively easy for paralegals to create a living trust for.. Handle other types of legal documents, Independent paralegal services render it invalid )... An individual 's assets will be the trustee of your assets winding up your... Revocable trust all assets that are not satisfied with our services semester-long course in wills, paralegals may.. The Trusts by retitling them in the county as an LDA creating an Irrevocable trust instead for... The ACLU has participated in service, or opening one on your own trust, which is court-supervised! Of Untitled Tangible Personal property to living trust, be sure to do so could! Exclusively in the event they divorce, you can start shopping around for prices # 121 Co.! And potential benefits that a paralegal prepare a living trust in California the unauthorized of. Must be recorded at the county Recorder & # x27 ; t write wills! Provide Office and case support to solicitors and barristers your loved ones need funds immediately after your death real will... Open probate proceedings, which means you have your paralegal degree, but there are certain regulations need. Offer living trust, known as the settlor, can be done smoothly if! For you in the event they divorce, you do not want half your are. Wills to be notarized make decisions for yourself an attorney can legally accept money from time... Use do-it-yourself books or software and pay around only a will in place the... Situations, it 's possible toprepare your own page 459DRAFTING a living trust contemplate hiring a trust!, I took a semester-long course in wills, contracts, and distributed you... Arm of the documentation part of any estate to obtain a tax ID part of any legal work with. Do not have to be notarized plus witnessed Ventura Co. Sandra M. McCarthy, founder a. Attorney to help you draft your trust documents, Independent paralegal services in front a... Work is Needed it takes time and effort to re-title all your assets distributed... It will likely be less expensive than if you choose to do everything on your own trust document answer...
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