Experienced Representation With Personal Attention

Is a revocable trust right for you?

On Behalf of | Jul 23, 2022 | Estate planning |

A revocable trust can be a powerful tool in an estate plan. Whether you wish to bypass generations or protect future generations, consider including a revocable trust in your estate plan to help you reach your goals.

What is a revocable trust?

A revocable trust is a document that the originator can change or cancel at any time. This vehicle allows complete control of your assets during your lifetime, and better control over the distribution of those assets after you pass.

What are some benefits of a revocable trust?

A revocable trust has many benefits for estate planning. Some reasons that a revocable trust may have a place in your estate plan include:

  • Avoid probate: assets not in a trust must pass through probate court. Assets in a revocable trust do not have to go through the probate process.
  • Asset protection: assets can be beneficiary-controlled, protected from divorce or lawsuits, or skip generations in the inheritance chain.
  • Appoint a trustee: you can name a trustee to privately handle your financial affairs without court interference.
  • Tax planning: trust structure can allow you to tax plan for your beneficiaries.
  • Maintain your privacy: trust documents are never entered into court records, unlike wills and other probate documents; trusts remain private and out of the public domain.

Aren’t trusts only for ultra-wealthy people?

Revocable trusts are for anyone that wants control over their estate and wishes to have efficiency and accuracy for their beneficiaries when the time comes.

A revocable trust is a powerful estate planning tool that can help anyone ensure the efficient and accurate execution of their final wishes.