The Living Trust Companion: How To Create a Living Trust; The Living Trust Video

Did you know that for every buck over $600,000 in your estate when you pass on to the great beyond, the Feds take about 50%? Plus, divvying up your goodies can take as long as 9 months to 2 years in a probate court? (I know, you're asking "what $600,000?" --actually, these programs are for your wealthy patrons, not for underpaid and overworked librarians such as yourself). The Living Trust Companion: How to Create a Living Trust is the lesser of the two efforts. a low-budget effort with some audio buzz and cheesy-looking graphics, the program cuts between a panel of experts comprised of an attorney, an accountant, a financial planner, and an insurance underwriter who, of course, tell you that you need a team of professionals to successfully create a living trust (and then prove it by throwing a lot of legal stuff your way). Although a lot of the information about appointing trustees, the various types of benefactors, and the costs involved in creating a living trust is quite good, the awkward cutting back and forth between the experts, references to a companion workbook (not included), and the technical drawbacks make this a less than optimum choice.The Living Trust Video, on the other hand, while it won't win any awards for slick presentation either, is at least technically up to snuff--even if it's basically a one-man talking head video. The man is Tom McGrath, an estate planning professional, and he's delivered umpty-ump seminars on the subject, which is why he can make a solid and coherent presentation with almost no editing. McGrath examines each of four "problem" areas in estate planning--probate, estate tax, conservatorship, and capital gains tax--and tells viewers how a revocable living trust will circumvent those problems. He also livens up the presentation with some interesting estate law tidbits: Marilyn Monroe's estate was in probate for 18 years, and Elvis Presley's estate--valued at 10 million plus--forked over 7 million in probate (no wonder the man haunts the Earth). Had either of these celebrities known Tom McGrath, they'd both be resting a little easier.The Living Trust Companion is not a necessary purchase. The Living Trust Video is recommended. (R. Pitman)