Key benefits include avoiding probate, preserving privacy, and enabling flexible management of assets during incapacity. A revocable trust can be amended or revoked at any time, and with proper funding, it provides a smoother transition for heirs while maintaining control over your wishes.
Protecting privacy and minimizing court involvement are key advantages of a comprehensive approach. By coordinating documents, ownership, and beneficiary designations, you create a clear path for asset management that reflects your values and reduces potential disputes.
Choosing our firm means working with attorneys who focus on Estate Planning and Probate. We listen, personalize plans, and communicate clearly. Our approach emphasizes transparency, affordability, and attentive service that helps you protect assets, support loved ones, and preserve your values.
Finally, we coordinate documentation storage and provide guidance on notification, distribution, and contingencies. The goal is to ensure beneficiaries understand their rights and responsibilities and that the plan remains resilient under changing laws.
A revocable living trust is a flexible estate planning tool created during your lifetime. You can alter or revoke it as circumstances change. It allows you to control how assets are managed and distributed while you are alive and after death. Unlike a will, a funded revocable living trust can help avoid probate for many assets, maintain privacy, and streamline transfers to heirs. It requires proper funding and ongoing reviews to stay aligned with goals.
In many cases, revocable living trusts can avoid probate by transferring ownership of assets to the trust and directing distributions privately. However, not all assets automatically bypass probate, and some probate may still be required for specific accounts or real estate outside the trust. A careful plan helps maximize privacy.
Most types of assets can be placed into a revocable living trust, including real estate, bank accounts, investment accounts, and business interests. Some assets may require retitling to the trust for full control. It’s important to review title documents and beneficiary designations to ensure everything is coordinated with the trust terms.
Funding involves retitling assets, updating beneficiaries, and coordinating with financial institutions. This step is essential; without funding, the trust may not protect assets or avoid probate. We help create a funding plan and execute it.
A successor trustee takes over management when you cannot act or after your death. They follow the trust terms, manage assets, handle distributions, and keep records. Choosing a trustworthy, capable successor is a key part of planning.
Revocable trusts do not themselves reduce estate taxes because the grantor retains control. However, advanced planning with other tools can minimize taxes, while ensuring flexibility and privacy.
If you become incapacitated, the successor trustee can manage financial affairs per the trust terms. A durable power of attorney for finances and a health care directive also support decision making when needed.
Regular reviews—at least annually or after major life events—keep your plan aligned with goals and laws. We recommend coordinating with your attorney to update documents and funding as assets change.
A fully prepared trust document, a schedule of assets, funding documentation, and ancillary documents such as powers of attorney and healthcare directives. Copies should be stored securely and shared with your chosen trustee and beneficiaries.
Timeline varies by complexity, assets, and funding. An initial plan may take several weeks to prepare. Funding and execution can add additional weeks, but we work to streamline the process with clear milestones.
