Revocable living trusts provide ongoing control while simplifying wealth transfer. They can reduce court involvement, support incapacity planning, preserve privacy, and allow you to designate a trusted successor to manage distributions when life changes.
A comprehensive approach delivers precise instructions for asset distribution, appoints trusted fiduciaries, and documents contingency plans. This clarity helps minimize disputes and ensures your wishes are followed.
Our firm takes a collaborative, client-centered approach. We listen to your goals, explain options clearly, and coordinate funding and document updates to ensure your plan remains effective.
Periodic reviews ensure your documents reflect life events, changes in assets, and shifts in law. We recommend privacy-preserving updates and timely strategy adjustments.
A revocable living trust is a trust you create during life that you can modify or revoke. You retain control as the grantor and can adjust terms, beneficiaries, and funded assets as circumstances change. This flexibility makes it a common centerpiece of modern estate plans. The trust can hold real estate, bank accounts, investments, and personal property for organized management.
In Maryland, a revocable living trust can help avoid probate for assets that are funded into the trust. However, some assets outside the trust may still go through probate. A well-crafted plan coordinates all asset types to minimize delays and ensure a smooth transfer to heirs.
Assets that you want to control and pass privately are good candidates for the trust, including real estate, bank accounts, brokerage accounts, and business interests. Retirement assets may require additional planning, and we will align these with your overall strategy to avoid gaps.
A pour-over will works with a trust by directing any assets not funded at death into the trust. It helps ensure a centralized plan for probate assets, but it does not replace the need to fund the trust during your lifetime.
Trustees can be a trusted individual, a family member, or a professional fiduciary. The key is selecting someone who understands your goals, can manage financial duties, and is willing to take on the responsibilities over time.
Yes. A revocable living trust is designed to be flexible, so you can amend or revoke it as your circumstances change. Updates may involve changing beneficiaries, trustees, or asset funding, and should be done with legal guidance to preserve validity.
The time required to set up a revocable living trust varies with asset complexity and funding. A straightforward plan may take several weeks, while more complex portfolios can extend longer. We provide a clear timeline and steady updates throughout the process.
Costs depend on the complexity of your plan, the number of assets, and required updates. We offer transparent pricing and can tailor services to fit your needs, including drafting, funding guidance, and periodic reviews.
If you become incapacitated, a properly drafted power of attorney and the trust provisions guide decision-making. The trustee can manage assets per your plan, maintaining continuity and reducing the need for court intervention.
To start the process in Frederick, begin with a consultation to discuss goals, assets, and family dynamics. We then outline a plan, draft the documents, and guide you through funding and execution steps, keeping you informed at every stage.
