Revocable living trusts provide flexible control over your assets while you remain the trustee during life, with the ability to modify or revoke the trust as circumstances change. They help streamline heirs’ access to assets, reduce probate complexity, and preserve privacy. A local attorney can ensure correct drafting, funding, and alignment with state law.
A holistic approach ensures assets are titled correctly, beneficiary designations are consistent, and distributions reflect your current goals, minimizing conflicts and simplifying administration for loved ones and executors.
Our local firm specializes in estate planning and probate, offering straightforward explanations, hands-on drafting, and careful attention to asset protection and legacy goals. We prioritize accessibility, timely communication, and practical strategies that fit your budget while delivering strong, lasting results.
After the plan is in place, we offer periodic reviews, updates after life events, and ongoing support to keep your documents aligned with your goals and state law.
A revocable living trust is flexible and can be changed. It works alongside a will and other documents. Funding the trust with assets is essential. When funded properly, the trust assets pass to beneficiaries without probate, while you retain control over distributions during life.
Yes, revocable living trusts are commonly used to avoid probate for assets titled in the trust. When assets are funded properly, they can pass to beneficiaries without court supervision. Some accounts with designated beneficiaries or retirement assets may not be titled in the trust, requiring additional planning.
A successor trustee is the person or institution who takes over management when the initial trustee cannot serve. Choosing a trusted family member or a professional ensures continuity and reduces conflicts among heirs. It is important to name alternates and document responsibilities clearly.
Yes, you can amend or revoke a revocable trust at any time as long as you are mentally competent. Drafting a new document or executing amendments keeps your plan aligned with evolving goals. Regular reviews help ensure the plan remains current.
Setting up a revocable living trust typically spans several weeks, depending on asset complexity and funding. A straightforward plan may take less time, while real estate transfers and coordination with financial institutions can extend the timeline. Prompt document signing helps maintain momentum.
To fund a trust, you typically retitle assets, change deeds for real estate, and update beneficiary designations. A lawyer guides the process to ensure all items are properly titled and any accounts moved into the trust are coordinated with overall estate goals.
A pour-over will works with a trust to transfer any remaining assets at death. Even with a trust, a will helps address assets not funded and appoint guardians for minor children, providing an additional layer of protection and clarity.
A properly drafted trust can offer ongoing management and privacy, and may reduce estate taxes for some families. However, tax planning within an estate plan requires attention to state and federal rules, and professional guidance is advised.
Costs vary by complexity and funding needs, but many clients pay reasonable fees consistent with Maryland rates. We provide transparent pricing and value through coordinated drafting, funding, and updates, with options tailored to your situation.
No, a will and trust serve different purposes; a will handles non-probated assets and guardianship. Having both ensures comprehensive coverage and smoother administration. Your attorney can explain how each document works together in your overall plan.
