Posted by RDavis on Thursday, November 21, 2002 at 7:28PM :
In Reply to: Liable for a legal bill even if innocent, $10,000 posted by dozerhead on Thursday, November 21, 2002 at 2:52PM :
50ac was left in trust to me,I carried my copy of the trust to the county office and got a copy of the trustees death cert. which I then took to the deed recorders dept.
I showed the copy of death cert.and trust along with proper I.D. and then had the property recorded in my name and all I had to do was pay the proper taxes.
Probate was devised to take as much of a poor mans assets after he dies and trusts were devised to help the rich keep their wealth and pass it on to their heirs.
That 50ac was in legal limbo while it was in trust, the trustee could not be sued for it as it was in trust for me and I could not be sued for it as until the death of the trustee it was not legally mine. And that is how the rich protect their wealth, putting it in legal limbo while still being able to sell or invest it(having complete control over it )but free from the fear of losing it.
Lawyers don't like to talk about trusts as they derive part of their livelyhood from handling wills and estates through probate of those who never learned the truth about probate and trusts. Why would you advise people in ways that would cut you out of money? Just a little FYI