b'CONTINUED FROM PAGE 1Five Issues That Damageprivate, and reduce or eliminate estate taxes. It alsoManager/Team Relationshipsensures your assets quickly transfer according to your wishes upon your death. With a revocableliving trust, no court action is involved, and theDisengagement in the workplace often is caused by property is distributed privately. Other documentspoor relationships between managers and their team frequently used in conjunction with a revocablemembers. living trust include a living will, medical power ofattorney, durable power of attorney, and irrevocableFast Company offers the following five issues that life insurance trustdamage those manager/team relationships. Setting up an effective estate1.Lack of trust. Once trust is broken, it is difficult plan is one of the most lovingto restore. You can build trust by keeping promises, being true to your word and being things you can do for yourconsistent in your actions. Shared values,family.decency and fairness are key. 2.Being too busy. This is a sign of poor leadership and a lack of care for those you manage. NoWhy Do Some Attorneys Recommend a Will?matter how busy you are, you always must have time to listen to and help your team. Take the Manyattorneysrecommendtheirclientscreateatime to foster and maintain relationships. will without a living trust. This ensures the estate willgothroughprobate.Why?Becauseattorneys3.Keeping secrets. A lack of transparency and donotalwayshavetheirclientsbestinterestinopenness can damage workplace relationships mind. The attorney wants to collect the legal feesand morale. It is important to trust your col-associatedwithprobate,and,insomestates,the leagues and share the good news and the bad attorney receives a percentage of all the assets thatnews. gothroughprobate.Theonlyperson thatbenefits4.Being overly critical. Although most people like fromyourestategoingthroughprobateisthe to be praised, some managers find it difficult to attorney.recognize workers for a job well doneand some only point out the faults. When you praise DoesaRevocableLivingTrustHaveTaxemployees, you inspire and engage them in the Benefits? workplace.A Living Trust provides no income tax savings, and5.Treating people differently. When a manager has for income tax purposes, it is as if it does not exist.favorites and is inconsistent, it can ruin work-However,ifthesizeofyourestateisabovetheplace relationships. It is important you treat amount exempted from estate taxes, the trust can bepeople fairly and have the same set of rules and structured to reduce or eliminate estate taxes.standards for everyone.Conclusion ThevastmajorityofAmericansdonothaveaneffective estate plan in place when they die, and by default,subjecttheirheirstothefrustrationsand costs of probate. Setting up a revocable living trust enables you to pass assets to your heirs efficiently, and is one of the most loving things you can do for your family.4'