Do not rely on a statement in your trust to fund it.
Orem, Utah (PRWEB) March 13, 2014
Legalees announces a new article by Attorney Lee R. Phillips entitled, “How to Fund a Trust”. He notes how one of his students found their family hit a snag in the disbursement of assets through their father’s trust because they had assumed that saying the trust would be funded by “Exhibit A”, that the property would automatically be transferable. This turned out to not be the case.
Lee’s student was aware of the issue because of information she had learned from the chapter “Funding Your Trust, or Rather, How Not to Fund Your Trust” in his book Protecting Your Financial Future. In response, he felt it would be timely and helpful for others to go over this information on his blog on LegaLees.com.
LegaLees has developed the self-implementation course Accumulation and Preservation of Wealth that contains everything folks need to take care of their advanced planning and put an effective estate plan in place. It is full of practical legal tools and line-by-line instructions on how to use them so that people can get their estate plan in place.
Mr. Phillips serves as a counselor to the Supreme Court of the United States. He is the author of 11 books. He has written hundreds of articles for professional people, assisting them in finding various strategies to use the law to protect their property, save taxes and make additional money. He has given addresses at thousands of business seminars. He enjoys helping people apply the law, not only to provide asset protection and estate planning, but also to use it to structure businesses and save taxes, helping individuals achieve success.
LegaLees was founded in 1982 by Lee R. Phillips. It is a legal self-help publishing company. It produces products designed to help people understand the law. Based on his own personal experiences, Mr. Phillips realized that people needed to be able to understand how the law works so they can direct their own legal professionals. He also saw that people who want to do their own legal work need to be shown how, not just handed a fill-in-the blank form. LegaLees has designed many products to help individuals structure their personal and business affairs. All of the products help the clients protect assets and prevent legal disasters that can strike at any time.