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PUTTING ASSETS INTO A LIVING TRUST AVOIDS PROBATE 

CHANGE TITLES 
(Nothing left to probate) 
PROBATE 

HEIRS 

BENEFICIARIES 

Assets titled in your name must go through probate before thry can go toyour heirs. But assets that YO!I re-title in the name of 
your living trust completelY avoid probate and go straight to your beneficiaries. Your estate JPill still have to pClJ final income taxes, 
but your living trust can reduce or eliminate estate taxes. 
Can I name someone else as my trustee? 
Yes. You could name an adult son or daughter, another relative or a good friend to be your 
trustee or co-trustee. You could also name a corporate trustee; that's a bank or trust company 
that manages trust assets. 
However, even if you name someone else as trustee, you're still in control. As long as you are 
competent, you can replace your trustee at any time if you don't like the job they're doing for 
you, because you are the grantor of your trust. 
Why would I consider a corporate trustee? 
Many people select a corporate trustee as trustee or co-trustee if they don't have the time, abil- 
ity or desire to manage their own trusts. For example, you and your spouse may be in declining 
health. You may be a widow or widower who doesn't have much experience managing invest- 
ments. Maybe you want to do other things with your time now, like travel. Or perhaps you just 
don't want the worry and headaches of managing your assets anymore. 
Corporate trustees are in the business of managing trusts-they are reliable, objective, govern- 
ment regulated, experienced investment managers, and by law must follow the instructions in 
your trust. Unlike an individual, they won't die, become ill, or move away. They do charge for 
their services, but their fees are usually reasonable and are often more than offset by their invest- 
ment performance. 
What happens if I become incapacitated? 
If you have named someone else as your trustee or to be a co-trustee with you (for exam- 
ple, your spouse or a corporate trustee), they will continue to manage your financial affairs 
according to your trust's instructions for as long as necessary. If you recover, you automatically 
resume control. If you are the only trustee or if your co-trustee is unable to act (for example, 
if your spouse is also incapacitated or has died), the successor trustee(s) you personally selected 
will step in and act for you. 
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