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A Living Trust holds title to your assets and has a life of its own The Law Firm of Steven F.Bliss Esq.Temecula Probate Lawyer Having an estate account reduces the potential for liability falling on the executor’s shoulders because there is no risk of commingling funds,which occurs when personal assets are mixed in with estate assets.
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If you have been named in a will as an executor,you don’t have to act if you don’t want to You’ll go about this procedure simply as you would usually,except that the owner and beneficiary of your policy will be your ILIT The Law Firm of Steven F.Bliss Esq.Trust Attorney.
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That indicates when you’ve created it and positioned an insurance policy inside it,you cannot take the policy back in your own name.
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