How to Settle a Living Trust
(Without a Lawyer)

I wish I could give you a comprehensive article on how to settle a living trust. Unfortunately, there's just too much to it.  But, you can get some tips and ideas from watching the video or reading the page at duties of an executor.  I discuss there some of my experiences as both an executor, taking an estate through probate, and also as a trustee, settling a living trust.  Of course, the primary difference is with settling a living trust you avoid probate.

There are also many books that do give you a comprehensive overview of the process.  For instance, Henry Abts has a 444 page book out titled: How To Settle Your Living Trust. I bought the book myself (at Amazon), read it and can give it my full endorsement. This book is a "must read" if you are the trustee of a living trust. It also has good information for the administration of an estate generally.

The book lays out what you need to know to settle a living trust. That includes such things as notifying financial institutions of the death of the owner of the trust; determining the value of trust assets; settling financial matters; distributing assets; paying taxes; etc. Basically, it's everything you need to do to avoid having to pay a lawyer to settle the estate.

The great thing about the book is how easy it is to read and understand. Mr. Abts uses lots of illustrations and stories to make his points. He also has sample forms and various helpful resources in the appendixes to the book.

Of course, the book focuses on the more common issues and simplified trust settlement and administration. But, he also discusses some less common estate settlement procedures as well as unique considerations in community property states and dealing with tricky assets like IRA's.

Anyway, you certainly should at least check out the book at How To Settle Your Living Trust : How You Can Settle a Living Trust Swiftly, Easily, and Safely.

Yes, I'll make a small commission if you buy from the link above, but regardless of that, I'd still highly recommend it.

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