Wills & Living Trusts

Living trusts are created with a clearly defined objective: to avoid probate. Misconceptions about living trusts have spread to the point where people think they can accomplish much more than they really do. Here is a realistic assessment of living trusts.

If you fear probate, consider a living trust. If you worry about your will being contested or your heirs fighting over your assets, a revocable living trust may be your best option.
You fund a revocable living trust with all, or largely all, of your assets during your lifetime. The trust owns the assets, yet you can still use these assets while you live. Once you die, the revocable living trust becomes irrevocable and the trust assets are distributed according to your wishes by designated successor trustees, exempt from probate.1,2,3
In addition to giving you more control and privacy, a living trust may save your heirs time and money. An AARP survey finds that it takes roughly 18 months to distribute the typical estate because of probate. Settlement costs from probate may eat up as much as 5% of an estate.1,2

Long Time Member Howard "Sherm" Sherman Passes Away

Howard Orson Sherman, “Sherm” passed away peacefully surrounded by his loving family early Friday morning May 31, 2013, his favorite time of day, to begin his new journey.

He was born March 24, 1931 in Ogden, Utah son to Trueman Carl and Fushia Olea Bybee Sherman. As a graduate of Ogden High School, Sherm put away his basketball and enlisted directly into the United States Navy in December 1949 serving his country during the Korean War from 1950 to 1954. As a Cryptographer Decoder, he received full military honors ranking Petty Officer 3rd Class in Communications. Upon his return, he studied engineering at Weber State College....

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Our condolences go out to the Sherman Family. Thank you "Sherm" for making the car industry better for all of us.