Probate avoidance, privacy, and the ability to adjust terms without restructuring the entire estate plan are primary advantages. A revocable trust remains under your control while alive and capable of modification, with a successor trustee stepping in if you become unable to manage affairs.
A tailored plan integrates trust provisions with tax planning, lifetime gifting, and incapacity planning. This streamlined approach helps prevent conflicts between documents and reduces the likelihood of disputes among family members.
Choosing our firm means working with attorneys who prioritize clear communication, practical strategies, and transparent pricing. We focus on crafting durable revocable living trusts that meet your needs while avoiding unnecessary complexity or cost.
We assist with transferring real estate, bank accounts, investments, and other assets into the trust. Proper funding is essential to achieve the plan’s intended outcomes.
A revocable living trust is a flexible arrangement that places assets under a trust during your lifetime. You maintain control as the grantor and can alter or revoke the trust at any time. A will works differently by directing assets after death, often through probate. The trust offers privacy, potential probate avoidance, and smoother management during incapacity. Two key distinctions are control and timing of asset transfer.
Yes, in many cases a properly funded revocable living trust can avoid probate for assets titled in the trust. This can preserve privacy and streamline distribution. However, certain assets held outside the trust or with named beneficiaries may still go through probate. An attorney can tailor the strategy to your situation.
Funding a revocable living trust can take several weeks depending on asset complexity and institution cooperation. It involves identifying assets, preparing transfer documents, and ensuring accounts are titled correctly in the trust name. Once funded, distributions occur per the trust terms rather than court oversight.
Yes. A revocable living trust can be amended or revoked entirely during your lifetime. You can update beneficiaries, reset trustee roles, and adjust asset control as needs evolve. It is important to document amendments and keep the trust in step with your overall estate plan.
Assets commonly placed into a trust include real estate, financial accounts, investment portfolios, and business interests. Personal property may also be transferred, while retirement accounts and some tax-advantaged assets may have specific considerations. Your attorney will customize funding based on goals and tax implications.
If you become incapacitated, a well drafted revocable living trust provides continuity. A named successor trustee can manage assets and implement plans without court intervention. Pairing the trust with durable powers of attorney and health directives adds additional safeguards and clarity.
The successor trustee oversees asset management and distribution after your incapacity or death. This role requires careful selection, clear instructions, and a plan for collaboration with beneficiaries. Legal guidance helps ensure duties are defined and executed properly.
Costs vary with complexity, asset types, and funding needs. Many firms offer initial consultations and flat fees for comprehensive trust setup. Ongoing maintenance may incur periodic update charges. A transparent estimate helps you plan, compare options, and avoid surprises.
To begin, contact our Columbia office to schedule a consultation. We will review your goals, assets, and family dynamics, then outline a tailored plan. You can expect clear explanations, step by step guidance, and support through funding and execution.
