Living Trusts: The Pros and the Cons.

Mondaq Business Briefing | May 17, 2002 | Copyright

Although the situation varies from state to state, for many clients of moderate to substantial wealth little is gained, and much may be lost, through the use of living trusts.

As Consumer Reports Magazine stated in its February, 1997 issue, "the growing popularity of living trusts is in direct proportion to the considerable efforts that lawyers, financial planners -- and more than a few fast-buck artists -- have been making to sell them...." Indeed, living trusts are actively promoted, even in direct-mail and newspaper advertising, and articles appear on a regular ...

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