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Living Trust FormsWritten by Tommy Jackson Posted: 2/4/08
Living trust is a very popular way for tax planning and avoiding a probate which is made necessary due to the fact that some state governments have passed laws that the succession of property can only take place after probate.
A probate is basically meant to ensure that if the person who died, owes anything to anyone, those dues must be cleared. In most cases, a probate is nothing more than a formality, an unnecessary yet costly formality. To avoid this, most people form living trust. This way, they also get some tax benefits. Making a living trust is a rather complicated procedure because a number of living trust forms need to be filled in. The living trust forms must be filled with proper care because they are legal documents and if ignored, any mistake in living trust forms can lead to grave consequences.
Here are some precautions that need to be observed while filling the living trust forms:
1. Keep papers unfolded and free of any stains etc: The first and most important yet most ignored precautions with living trust forms are that forms should never be folded. A lot of people fold the living trust form. Most new living trust forms are to be read by a computer. Any unwanted folds or creases on the living trust forms are tantamount to filling in wrong information because the computer may read it as wrong.
2. Check and Recheck every detail: Remember that living trust forms are legal documents which are justifiable in a court of law. Even a small mistake of facts can land you in a forgery or a fraud trial. While filling in living trust forms, check every fact until you are absolutely sure that there are no mistakes at all.
3. Use a clear legible handwriting: Most of the living trust forms are processed by a computer. Because of this, living trust forms be filled in a clear and legible handwriting, so that the computers are able to read them correctly.
4. Keep a copy of the living trust forms handy with yourself: Keep a Xerox copy of all the living trust forms and of property that will be funding the trust with you all the time until and after the living trust is being set up.
5. Most importantly, keep in touch with an attorney who is familiar and experienced in tackling issues pertaining to living trusts.
With these details, go ahead and take the necessary precaution while preserving the living trust forms.
Tommy Jackson owns and operates http://www.livingtrustresources.com and Living Trust
Article Source: http://EzineArticles.com/?expert=Tommy_Jackson
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