Should I create a revocable trust thru LegalZoom?

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Victorleo
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Should I create a revocable trust thru LegalZoom?

Postby Victorleo » Tue May 08, 2012 11:33 am

Hi,

I have a few questions regarding trust procedures, I hope someone can help me with.

I own several stocks that are registered in my name (not held in a brokerage account) I was wondering if I would still be able to collect dividend after they are put in a trust?

I also looked into a web site called legal zoom. They offer a self help option for a few hundred dollars. Is this a good alternative?

Are there any risk to the assets in the trust?

Thanks in advance.

:cheers:


DavidNY
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Postby DavidNY » Tue May 08, 2012 11:37 am

I used Legalzoom to create a corporate entity. They did a good job.

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Victorleo
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Postby Victorleo » Tue May 08, 2012 11:42 am

DavidNY wrote:I used Legalzoom to create a corporate entity. They did a good job.


Good to hear from a member. Its hard to trust some reviews on the internet. I read a story where companies would actually write there own reviews.

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Postby DavidNY » Tue May 08, 2012 1:54 pm

It's true, some companies do write their own reviews.

I can't vouch for the exact services you're seeking, but they did what I asked them to do. They're based in Glendale, Ca.

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Postby JCarter » Wed May 09, 2012 3:51 am

Victorleo wrote:Hi,

I have a few questions regarding trust procedures, I hope someone can help me with.

I own several stocks that are registered in my name (not held in a brokerage account) I was wondering if I would still be able to collect dividend after they are put in a trust?

I also looked into a web site called legal zoom. They offer a self help option for a few hundred dollars. Is this a good alternative?

Are there any risk to the assets in the trust?

Thanks in advance.

:cheers:


While LegalZoom has several benefits, I would NEVER utilize them for creation of estate / trust plans, documents, instructions or drafts.

Contact a local attorney through the bar, it shouldn't be that much more. They'll have a template they use based on your local law, and that of the trust formation (eg: Delaware). Fill in the blanks and send the client a copy for review.

DoingHomework
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Postby DoingHomework » Wed May 09, 2012 1:51 pm

Victorleo wrote:Hi,

I have a few questions regarding trust procedures, I hope someone can help me with.


What exactly are you trying to accomplish?

Why not just call a lawyer like Mr. Carter suggests? If having a trust is important then don't you think that having it done right is also important?

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Victorleo
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Postby Victorleo » Thu May 10, 2012 10:49 am

JCarter wrote:Contact a local attorney through the bar, it shouldn't be that much more. They'll have a template they use based on your local law, and that of the trust formation (eg: Delaware). Fill in the blanks and send the client a copy for review.


Thank you ill look into it tomorrow. Unfortunately I'm a little swamped right now but ill definitely contact the BAR.

DoingHomework wrote:What exactly are you trying to accomplish?

Why not just call a lawyer like Mr. Carter suggests? If having a trust is important then don't you think that having it done right is also important?


You’re absolutely correct. Its to important not to do it right.



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