1. Why do I need an estate plan?

  2. If I don't create an estate plan, won't the government provide one for me?

  3. What's the difference between having a will and a Living Trust?

  4. The possibility of a disabling injury or illness scares me. What would happen if I were mentally disabled and had no estate plan or just a will?

  5. If I set up a Living Trust, can I be my own trustee?

  6. Will a Living Trust avoid income taxes?

    NO. The purpose of creating a Living Trust is to avoid living probate, death probate, and reduce or even eliminate federal estate taxes. It's not a vehicle for reducing income taxes. In fact, if you're the trustee of your Living Trust, you will file your income tax returns exactly as you filed them before the trust existed. There are no new returns to file and no new liabilities are created.

  7. Can I transfer real estate into a Living Trust?

  8. Is the Living Trust some kind of loophole the government will eventually close down?

  9. Isn't a Living Trust only for the rich?

  10. Can any attorney create a Living Trust?