Financial Intel Monthly

Living Trust

Aug 25, 2011 4:12:18 PM / by The Retirement Group (800) 900-5867


A living trust (also known as a revocable or inter vivos trust) is a separate legal entity that you create to own property, such as your home, boat, or investments. You transfer some or all of your property to the trust as soon as it is created. During your lifetime, you control the trust; you can change the trust terms, or terminate the trust and take the property back. At your death, the trust becomes irrevocable and may continue to exist for many years. The trustee administers and distributes the trust property according to the terms of the trust.

  • The property you want to transfer can be held in a living trust

Key Strengths

  • You control your property until your death
  • You control the transfer of assets to heirs
  • Enables someone else to manage your property
  • Protects your property in case you should become incapacitated
  • Avoids probate

Key Tradeoffs

  • Doesn't avoid estate or income taxes
  • Doesn't shield assets from potential future creditors
  • May raise Medicaid eligibility issues

Variations from State to State

  • Some states require a formal execution or recording of living trusts
  • Some states require a co-trustee

How Is It Implemented?

  • Hire an attorney to advise you and draft the trust document
  • Transfer property to the trust
  • File gift tax returns

This material was prepared by Broadridge Investor Communication Solutions, Inc., and does not necessarily represent the views of The Retirement Group or FSC Financial Corp. This information should not be construed as investment advice. Neither the named Representatives nor Broker/Dealer gives tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. The publisher is not engaged in rendering legal, accounting or other professional services. If other expert assistance is needed, the reader is advised to engage the services of a competent professional. Please consult your Financial Advisor for further information or call 800-900-5867.

The Retirement Group is not affiliated with nor endorsed by,,,,, ING Retirement, AT&T, Qwest, Chevron, Hughes, Northrop Grumman, Raytheon, ExxonMobil, Glaxosmithkline, Merck, Pfizer, Verizon, Bank of America, Alcatel-Lucent or by your employer. We are an independent financial advisory group that specializes in transition planning and lump sum distribution. Please call our office at 800-900-5867 if you have additional questions or need help in the retirement planning process.

The Retirement Group is a Registered Investment Advisor not affiliated with  FSC Securities and may be reached at

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