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The Known Advantages of A Living Trust
by: Jeffrey Broobin
A living trust is an arrangement by which you as the grantor place property in trust and name yourself or some other person as Trustee or Co-Trustee, but reserve the right to revoke the trust so that the property can be returned to you. Generally, the trust agreement provides that upon your death the property will go to the named beneficiaries. Why set up A Living Trust? The Advantages of the living trust include the following: 1. Provides for Property Management or disbursement; 2. Avoid all legal fees and Expenses Associated with probate; 3. Automatically avoids all probate of the property; 4. Assures uninterrupted income and Access To Principal for family beneficiaries; 5. Eliminates time delays in settling the estate - the successor trustee Immediately Distribute the funds as indicated in the can revocable living trust agreement; 6. Maintains privacy - nothing is printed in the newspaper as is the case When a Person Dies either in testate (no will) or with only a last will; 7. Avoid the emotional trauma, aggravation and frustration of a complicated probate court procedure; 8. Protects up to $1,500,000 from federal estate taxes for a single person and up to $3,000,000 for a married couple. This rule works for US citizens only! And, what about the children? How mature and ready will they be to inherit my estate? It’s true that age 18 is the legal minimum age for inheriting an estate, but is your 18-year old wise enough to manage substantial wealth? Maybe he should receive assets in stages (say, one-third at age 25, another third at age 30, and the remainder at age 35)? Shall he receive a big allowance, or should he be encouraged to get a job? A great advantage of the living trust is that you can decide and control how to distribute your estate to your children.

About the author:
Jeffrey Broobin is a free-lance writer on family and finance issues; his main goal is to help people during their complicated period of life.
Website: http://www.legalhelpmate.com
Email: jeffreyb@legalhelpmate.com


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 Legal Debt Collection Tricks
 by: Steve Austin

If a customer owes your local business money, it's hard not to feel angry, like you want to do anything possible to get your money back. But the days of going all out to collect on a debt over.

The Fair Debt Collection Practices Act, designed to protect consumers from harassment or intimidation, sets firm limits on what you can do to collect a debt from a consumer. The federal debt collections law even prohibits practices that were once standard, and that you might not consider harassment at all.

Besides, as a local business, you have an even more powerful reason to be especially careful about legal debt collection issues. You have something much more valuable at stake than a lawsuit: your business's reputation in the community.

Legal Debt Collection Best Practices:

There are plenty of articles on the web that lay out in plain English what the Fair Debt Collections Practices Act says you can and cannot do. Just to give you some idea of the law's requirements, here are some of the biggest:

- No telling any third party about the debt (except collection bureaus, collection agencies, or the debtor's attorney).

- No calling on the telephone 9 pm - 8 am, or calling repeatedly in a way that is annoying.

- No postcards or envelopes that mention the debt.

- No threats to take actions you cannot or will not really take, such as seizing property, in the case of an unsecured debt.

- No misrepresenting yourself (e.g., "Hi! This is the Publisher's Clearinghouse Sweepstakes. May I speak to John?").

- No paying down the debt with payments the customer has directed be applied to other debts

Tips and Tricks for Legal Debt Collections:

With all these limits on what you can do to collect a debt, what can you do legally?

- Speak with the debtor personally on the telephone


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