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<title>Welcome to Security Financial Group! - Common Questions</title>
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<p ALIGN="center"><img SRC="images/question_title.jpg" ALT="question_title.jpg (9489 bytes)" WIDTH="336" HEIGHT="42"><font COLOR="#FFFFFF">__.___</font></p>
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<td WIDTH="100%"><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>Q:
Can a well-drafted Will avoid Probate?</strong></font>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>A:</strong>
No! All Wills must be probated to insure their validity.</font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>Q: How
big an estate should I have before I consider a living trust?</strong></font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>A:</strong>
It is really not a matter of how much you own.</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#FFFFFF">..</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040">Whether
you are young or old, married single, have a modest or substantial
estate, just about everyone can benefit from a Living Trust.</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#FFFFFF">..</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040">As
a matter of fact, most small estates lose a greater percentage than
larger estate through the probate process.</font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>Q: If I
get a Living Trust, have I finished my estate planning?</strong></font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>A:</strong>
Not necessarily.</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#FFFFFF">..</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040">Depending
on the size of your estate and your situation, you may need additional
planning.</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#FFFFFF">..</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040">There
are several options for you to consider, and you may discuss these
with one of our representatives with the assurance of complete
confidentiality.</font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>Q: Does
my Living Trust protect my assets from creditors? </strong></font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>A:</strong>
No.</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#FFFFFF">..</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040">A
Living Trust does not shield your assets from creditors.</font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>Q: If
my home is in a Living Trust, can I still deduct mortgage interest?</strong></font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>A:</strong>
The Living Trust has no impact on income taxes.</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#FFFFFF">..</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040">You
control your assets and continue to file your income and expenses on
your tax return, including mortgage interest.</font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>Q: Will
having a Living Trust affect my Social Security benefits?</strong></font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>A:</strong>
Not at all, because Social Security benefits are considered income,
and the Living Trust has no effects on income.</font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>Q: Can
I sell my assets once they are in my Living Trust?</strong></font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>A:</strong>
Yes. You have exactly the same rights as you did prior to the creation
of the trust.</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#FFFFFF">..</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040">You
can buy, sell, or transfer your assets at any time.</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#FFFFFF">..</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040">You
can also borrow against your as before.</font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>Q: Why
didn&#146;t my lawyer tell me about a Living Trust?</strong></font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>A:</strong>
Many attorneys are not aware of the alternatives to probate offered by
the Living Trust.</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#FFFFFF">..</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040">Some
simply fail to mention this to their clients as it means that the
attorney will lose probate fee. Remember that attorneys can receive
from 6 to 10 percent of the gross estate for probating the Will.</font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>Q: Do I
need to notify my attorney that I replaced my Will?</strong></font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>A:</strong>
There is no need to notify your attorney.</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#FFFFFF">..</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040">When
you execute your trust, you revoke all former Wills.</font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>Q: Can
probate be avoided by the use of joint tenancy?</strong></font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>A</strong>:
Yes and no.</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#FFFFFF">..</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040">Joint
tenancy with your spouse can delay probate, but it cannot avoid
altogether. Upon the second death, the estate will be probated unless
you also have joint tenancy with your heirs.</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#FFFFFF">..</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040">This
is risky, however, in that you expose your estate to any 1iabity,
lawsuits, or creditors of any of the joint tenants.</font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>Q: Can
Congress outlaw the Living Trust?</strong></font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>A:</strong>
Congress has little chance of ever taking away the Living Trust.</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#FFFFFF">..</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040">The
Constitution of United States of America grants certain states'
rights.</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#FFFFFF">..</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040">One
of these states' rights is the right to create a legal entity such as
a corporation or a trust.</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#FFFFFF">..</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040">Congress
will probably not be able to invade this area of states' rights.</font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>Q: Can
I have a Living Trust if I am unmarried?</strong></font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>A:</strong>
Of course! If you want to avoid probate, you must have a Living Trust
whether you are married or not.</font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>Q: Is
the Living Trust valid in all fifty states?</strong></font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>A:</strong>
Yes, and since the Living Trust is derived from English law, it is
recognized in all commonwealth nations and valid in most nations that
have have a civil code.</font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>Q: What
is an A/B Trust?</strong></font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>A:</strong>
It is a unique trust between married couples.</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#FFFFFF">..</font><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040">The
trust will divide into two trusts up the first to die. Because of this
feature, the estate tax deduction is increased from $650,000 to
$1,300,000. It can also preserve half of the assets should there be a
catastrophic illness or nursing home care. It is also very useful when
there is a second marriage involved and there are two sets of
children.</font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>Q: How
are new assets handled after my Living Trust has been created?</strong></font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>A:</strong>
On any new purchase, simply instruct your real estate agent,
stockbroker, or ban officer to record title to the asset in the name
of your trust.</font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>Q: Do I
need to change ownership of my stocks and bonds?</strong></font></p>
<p><font FACE="Geneva,Arial" SIZE="2" COLOR="#804040"><strong>A:</strong>
Absolutely! All of your assets should be recorded in the name of your
trust in order avoid probate. On any new purchase, simply instruct
your real estate agent, stockbroker or bank officer to record title to
the asset in the name of your trust, or give us a call and will come
out and help you!</font></p></td>
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Copyright parts <i>1999 Security Financial Group</i>
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