A revocable living trust offers privacy, flexibility, and control, allowing you to modify terms or revoke the trust if circumstances change. It can help your heirs avoid probate, maintain beneficiary privacy, and streamline management during incapacity. While not a substitute for a will, it complements comprehensive estate planning.
A holistic strategy addresses protection across asset classes, reduces probate exposure, and provides clearer guidelines for trustees and beneficiaries. This approach supports resilient family planning through changing laws and life events.
Our team combines practical experience with a client-centered approach. We explain complex concepts in plain language, listen to your goals, and craft a customized estate plan that reflects your values and financial situation while remaining compliant with Maryland law.
After funding, we provide ongoing support for annual reviews, life-event updates, and adjustments to trustee numbers or successor selections to keep the plan current.
A revocable living trust is a flexible arrangement created during life that places assets into a trust fund managed by a trustee. Unlike a simple will, it can be changed or revoked, and it often works to avoid probate for assets placed into the trust. It does not permanently seal assets from creditors.
A trustee should be someone you trust to handle finances and follow the trust terms. A successor trustee steps in if you become unable to manage the trust. Clear communication and documented acceptance of the role help prevent future disputes and ensure smooth administration.
A trust can help avoid probate for funded assets and maintain privacy, but not all assets automatically bypass probate. Untitled accounts and certain retirement assets may still flow through probate. Coordination with a will and beneficiary designations is often necessary for comprehensive coverage.
Fund all significant assets, including real estate, financial accounts, and business interests, into the trust. Title changes may be required, and beneficiary designations should be aligned. Without funding, the trust cannot control distributions at death or during incapacity.
Yes. A revocable living trust can be amended or revoked anytime while you are competent. Changes usually require new language or a restatement of the trust. This flexibility allows adjustments as family circumstances or goals evolve without drafting an entirely new plan.
Review your plan at least annually and after major life events such as marriage, divorce, birth, death, relocation, or significant changes in assets. Regular reviews help ensure documents reflect current wishes, laws, and financial circumstances, reducing future uncertainty for heirs.
Powers of attorney address financial decisions and healthcare choices during incapacity. They work alongside a trust to ensure ongoing management of assets and medical preferences. Establishing these documents together creates a cohesive plan that minimizes gaps and avoids court intervention.
Trusts interact with tax planning by guiding distributions and potential estate tax strategies. We assess your family’s tax profile and coordinate with gifting, charitable planning, and step-up basis considerations to optimize benefits while staying compliant with applicable laws.
Costs vary by complexity, assets, and planning needs. Initial setup typically includes document drafting and funding guidance, with ongoing review offered as a separate service. We provide transparent estimates and communicate any changes clearly as your plan evolves.
The timeline depends on asset types and funding readiness. A basic plan may take a few weeks, while complex portfolios could require several months to complete funding, deed refinements, and beneficiary coordination. We work to establish clear milestones and keep you updated throughout.
