Key benefits include avoiding probate delays, maintaining privacy, and enabling smooth asset management during incapacity. The grantor retains control and can amend or revoke the trust at any time. A funded trust can simplify distributions to loved ones while reducing court involvement and potential family conflict.
With a coordinated set of documents and properly funded assets, your plan operates smoothly, with fewer gaps or conflicting directives, and provides a clear roadmap for successors.
We tailor plans to your goals, assets, and family situation, communicating in plain language and providing clear cost estimates.
Life changes prompt timely reviews. We schedule periodic check-ins and are available for updates after events such as marriage, relocation, births, or significant asset changes to maintain alignment with your goals.
A revocable living trust is a flexible estate planning tool that allows you to control assets during life and specify how they pass after death. You can amend or revoke the trust at any time, and it may help bypass probate while preserving privacy. This type of trust is commonly used to coordinate asset distribution and plan for incapacity.
Funding involves transferring assets into the trust and updating titles to reflect ownership by the trust. This often includes retitling real estate, transferring bank and investment accounts, and naming beneficiaries. Proper funding ensures the trust governs the intended assets and functions smoothly when needed.
Assets typically placed in a revocable living trust include real estate, financial accounts, and investment portfolios. Non-titled items such as personal property can also be transferred via a schedule. The goal is to maximize control, privacy, and efficiency in asset transfer after death.
In Maryland, a revocable living trust can help avoid probate for funded assets, but not all assets may be exempt. A well-structured plan considers state law, asset location, and how funds are titled. Consulting with an attorney ensures you understand probate implications for your situation.
Yes. In many cases, you can serve as your own trustee while alive, maintaining control over assets. A successor trustee is named to manage the trust if you become incapacitated or pass away. This setup supports continuity and clear management during life changes.
After death, the successor trustee distributes assets per the trust terms. Because the trust may avoid probate, the process can be faster and more private. Beneficiaries receive clear instructions and documentation to facilitate a smooth transition of ownership and benefits.
Trust documents should be reviewed at least every few years or after major life events such as marriage, divorce, birth, or relocation. Regular reviews keep the plan aligned with current laws, asset changes, and evolving family circumstances to prevent unintended outcomes.
Accompanying documents often include a pour-over will, powers of attorney for health and finances, and a healthcare directive. These items work together to ensure your wishes are carried out and that asset management remains coordinated during incapacity.
Costs vary by complexity, asset mix, and whether updates are needed after funding. Typical expenses cover drafting, execution, and periodic reviews. We provide clear estimates and transparent billing to help you plan without surprises.
To begin, contact our office for a consultation. We’ll discuss your goals, gather asset information, and outline next steps. Afterward, we draft your documents, review with you, and guide you through signing and funding the trust.
