Frequently Asked Questions

It’s inevitable, we all must die. We want our families and our pets to be secure after we’ve gone. Do we create a Living Revocable Trust or write a Will?


Question: How does a Living Revocable Trust differ from a Will?

First, we need to define the terms Living Revocable Trust, Trustee and Will.

A Living Revocable Trust is a legal entity created by you for the benefit of designated beneficiaries, your wife, daughter, son, foundation or other entity, while you are alive and may be altered or terminated (revoked) during your lifetime. The property is passed on to other beneficiaries only after your death, and the revocable trust then becomes irrevocable. Simply stated, you created the trust and you can change or revoke the trust all together, if desired, and you, the trustee, control how the assets of the trust are used.

A Trustee is a legal term for a holder of property for the benefit of another (the beneficiary). The trustee, you or someone appointed by you, holds, manages and/or invest the assets for the benefit of the beneficiary and is obligated to make decisions with the best interest of the beneficiary in mind.

A Will is an instrument by which you make a disposition of your real and personal property, to be performed or take effect only after your death. A will is subject to go through Probate Court, where some of the proceeds from your estate will go to pay court costs, executor and attorney fees.


Answer: For the majority of people, a Living Revocable Trust is the answer.

A Living Revocable Trust avoids probate because you have taken the steps, while you are alive, to transfer the title of your property from your individual name into the title of the trust. When you have died, no one, as you do with a will, have to go down to Probate Court, where a judge has got to sign your name on that asset, on that deed, over to your beneficiaries. It has already been done. In a Living Revocable Trust it might take two weeks, a month, to have the assets transfer; versus six months to two years in a Will.

The first step in determining if you need a Living Revocable Trust or only a will is to add up the value of your assets. Estimate the value of your assets using the fair market value of your primary residence or other real estate, without deducting any outstanding mortgage. Then the estate value guidelines for your state of residence will determine whether or not you should create a Living Revocable Trust or simply a Will. For an example, in the State of Utah, if your net estate value exceeds $25,000.00 OR you own any real estate, a Living Revocable Trust would be the better instrument to use.

The staff at Eastridge Paralegal Service is fully qualified and capable of assisting you in the preparation and filing of your estate planning documents, i.e., a Trust or Will.


Question: What is meant by “Pro se”?

You’ve had the plumber come and repair a leaky dishwasher. During the night the dishwasher started leaking to excess and damaged the floor. You called and complained to the plumber and he comes out and repairs the leak correctly but refuses to help with the ceiling repair. You decide to take him to small claims court. You can’t afford an attorney, so you call a paralegal. Assist in composing and preparation of forms acceptable to the court.


Answer:

“Pro se” refers to the instance of a person representing himself or herself without a lawyer in a court proceeding, whether as a defendant or a plaintiff and whether the matter is civil or criminal.

 

Question: What is the quickest and simplest way through the divorce process?


Answer:

A simplified or uncontested divorce

If you both consent to the divorce and have reached an agreement regarding custodial rights and or visitation rights, the division of assets, property and payable debts a paralegal service is the way to go. However, in some states, such as Utah, when children are involved, divorce education and orientation classes may be required. This results in another week or two for classes.

 

Call Eastridge Paralegal Service (801) 944-0067