Living Trust Question

[Hermione]

What is the name of your state (only U.S. law)? Georgia

My Dad is a widower with three adult children. He wants to create a Living Trust to prevent us from having to go through probate process. *He already has a will, of which I (his daughter) am executor. I am also his POA. He has agreed that his house and belongings be sold upon his death and the proceeds be split equally amongst us (the principal beneficiaries.) The only tangible things of value he has are the house and two vehicles. *All other assets (checking accounts, IRA, life insurance) already have updated beneficiary designation. Is there any specific verbiage that he needs to be aware of to include in the Trust to prevent 'conflict' if you will? *Needs to be very specific in other words? We anticipate some resistance from my brother's wife, and would, thus, try to prevent if possible. Thank you.What is the name of your state (only U.S. law)?

 

[FlyingRon]

The trust controls what items that are titled to it (investments, houses, etc...).
The will covers what remains in the estate (i.e., what was owned by him not the trust and doesn't already pass via some beneficiary arrangement). One is not going to conflict with the other.

Generally you want to pass as much as you can via beneficiary routes, then all the other major assets in the trust, and leave the will to cover what remains of the estate.

Frankly, you'd be well advised to get a professional to help draft both the wills and trusts, and arrange to retitle the assets, and make recommendations as to the disposition of other items.
While he's at it, he will probably wish to look into having Advanced Medical Directives and Medical (and possibly Durable) Power of Attorney in case he is incapacitated.
We managed to get my mother-in-law to execute these things while she was still able and boy did it make things easier later on.