Ensuring Digital Signature Legality for Profit Sharing Agreement in Mexico

How to eSign a document: digital signature legality for Profit Sharing Agreement in Mexico

hey state planning attorney paul rabale and this is going to be a fast overview of what a living trust is and why so many people utilize them as part of their overall estate planning legal program so for starters whenever someone dies with assets titled in their name assets like their home rental property shares of stock certificates of deposit business interests all of those assets that i just referred to are typically referred to as probate assets and upon your death whether you have a will or not these probate assets will be frozen and your surviving family members or heirs will not be able to sell or access these assets until they go through the court and attorney involved probate process which many people perceive as time-consuming expensive and just an all-around hassle because in many cases it is all of those things a quick side note that you in addition to owning probate assets you may also have assets in your name that do not require the involvement of attorneys judges and court orders to gain assets this includes assets like life insurance and retirement accounts that have beneficiaries listed on the account information paperwork these assets are often referred to as non-probate assets so some people in an attempt to keep their survivors and heirs from having to go through the probate process establish what's called a living trust here's the idea create what's called a revocable living trust that you can change anytime transfer title of your probate assets to your trust the key is things in a trust don't go through the court and attorney-involved probate process at the courthouse when you die and the trust states who's in charge of your trust when you die that person's often called the successor trustee the trust instrument states what happens to the trust assets when you die it serves as a replacement to your will in so far as the trust assets goes and at upon your death that successor trustee that you named often a family member has the authority to distribute those trust assets to the trust beneficiaries in ance with the terms of the trust instrument a few other quick points worth addressing in case you happen to have a trust and still die with probate assets that are titled in your name when you have a trust you'll also need a will typically referred to as a poor over will because it provides that upon your death those probate assets that are in your name will go through the probate assets to be retitled or poured over into your trust also as part of your entire estate planning program you'll also have things like a durable or property help power of attorney a healthcare power attorney and a living will so that if during your lifetime you can't transact for yourself or you can't make your own medical decisions you'll have the instruments in place so that your financial and healthcare wishes are honored by the appropriate people make sure you like subscribe comment down below we'll see you next time