The Revocable Living Trust

What Some Lawyers Dont Want You to Know: A Living Trust Speech Example

On hearing "What they don’t want you to know about the revocable living trust." do you have some skepticism about who would say such a thing? What if you heard this same warning from several sources?

What if the source was a former Attorney General of Hawaii, Michael Lilly, author of the estate planning book, If You Die Tomorrow? Also Forbes Magazine, Consumer Reports, Money, and the Wall Street Journal, modern Maturity, and others who all say basically...

..."Almost Everyone can benefit from a Revocable Living Trust."

    A funny thing happens when some hear this advice on revocable living trusts. People with estates worth a few hundred thousand dollars run this by their attorney who does not specialize in trusts. Then they proudly announce they have been advised not to get a trust. Now, why would Forbes, Consumers Union, Money, and the WSJ encourage getting a Revokable Living Trust (RLT) and some lawyers discourage it? What do you think?

    Incidentally, in my experience, millionaires do not even question them. They look for the best value and purchase. What is interesting about this is that they benefit the least when it comes to percentages but more in overall cost.

    What do millionaires know that you, I and they do not want you to know?

    First...of what benefit is it to these publishers to tell you to get a revocable living trust? Well, If you act on and profit from their advice, they sell more magazines. Really their self serving interest is to protect you as a reader, providing great advice.

    Perhaps a better question to ask would be...what’s in it for the attorney?

    How does an attorney benefit if you only have a will? They cost as little as $50 and as much as $650 in my research. That is not very much. This is especially if your estate is worth a few.

Your Will, the Dead Giveaway

    The answer is a dead giveaway. When you die, who will care for your estate, fulfilling your wishes? Your heirs? Who will they call? An attorney, perhaps the one who prepared the will? How much does this cost? Will they ask or will they just pay when the bill arrives? What about the other charges? Did you know there are court costs and other fees? Dying is an expensive proposition.

    This process is called probate. Do you know how much it costs to have a will probated? Do you know where and to who your money goes?

    If you were to meet with me, you could see the Resident Decedent Tax Returns that show as much as 17% probate fees on an estate worth less than $100,000. Ask to see the DF Tax Return. Her estate, worth just over $800,000 cost 11% or about $90,000 to probate. Is that a lot of money? I think so.

    Additionally, it took over a year to settle her account so to speak in the probate process.

    You might also be interested in how I obtained these tax returns, heirs names, addresses, Social Security numbers and how much they inherited (it is public information)?

    In contrast, I could show you an estate worth $366,542 where the cost to settle the estate was only $2,527 because it was set up in a revocable living trust. The question is, where do you want your money to go, to your heirs or to the attorneys, court costs, accounting fees, and other expenses? You can choose.

    It only took about 6 weeks, was totally private (the family allowed us to use it as an example) and so simple to take care of, almost anyone could do it if they can follow directions. Many companies offer to have a settlement team at no charge to come out and help with this.

    I am not an attorney or financial planner. I show people what is available to help with the decisions they face and if desired, connect them with the experts that can help fill these needs.

    Do you know the several ways you and yours would benefit from a trust? This and more on living trusts will be discussed in future installments.

Revocable Living Trusts: Almost But Not or Everyone

    In my experience it seems that attorneys usually will not write a trust for an estate worth less than $50,000 with the exception of a special needs trust. This is because the cost exceeds the savings.

    Special needs trusts are for people on disability or government benefits who would be at risk for losing those benefits with any inheritance.

    Creating a living trust is a process. It involves information gathering, documenting your wishes, conferring with a trust specialist attorney, and then once prepared, a signing party to finish the paper work.

    Would you like to have access to a Trust attorney specialist? I can possibly help you, depending on the state your in and the laws governing this topic.

    While we are on the topic of what they don’t want you to know, one of my clientele ran the thought of getting a trust by her attorney. The attorney got self-righteously indignant. She said to be careful as people who create these are con men and crooks. She even sent her to a web site that said the same and it was from the attorney general.

    Here is the problem. Why are attorneys so against them yet it takes an attorney to make them? In one company I am affiliated with, the company offers a thirty day, yes 30 day guarantee where you can get your money back if your dissatisfied. Try to get such from one of the lawyers who says that people who sell trusts are con men and crooks.


    At we love speaking about Revocable Living Trusts.

    Can we speak to you or your group of 2 to 200? Call me at 570-468-9983 to book a speaking date in Pennsylvania, New York or New Jersey.

    This is not intended to provide legal advice regarding estates, estate planning, or revocable living trusts or in any other way to those who read this or hear the audio version.

    The author disclaims any liability for any loses either directly or indirectly from the use of this information. It is strongly recommended that you seek the advise of an experienced and well qualified tax accountant or attorney who specialize in estate planning and RLT’s before making any decisions regarding your estate.

Speech Topics at The Revocable Living Trust Speaking Website

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