Revocable living trusts provide flexibility, allowing you to amend terms as circumstances change while preserving control over assets during life. They can simplify successors’ access to property, keep matters private, and potentially avoid the delays and costs of probate. Proper planning aligns your wishes with tax considerations and family dynamics.
By aligning governance and beneficiary designations, a comprehensive plan minimizes gaps and helps assets pass efficiently to chosen recipients, while safeguarding privacy and reducing court oversight. This approach also clarifies successor roles and duties.
Choosing the right attorney ensures your trust reflects your goals, complies with state law, and provides a straightforward administration path for loved ones. We focus on practical planning, transparent communication, and tailored strategies that fit your financial situation.
This step also covers updating powers of attorney and healthcare directives to ensure alignment with the overall estate plan.
A revocable living trust is a flexible estate planning tool that lets you control how your assets are managed and distributed during life and after death. You can adjust or revoke it as your circumstances change. It often helps avoid probate, maintain privacy, and coordinate asset transfers to heirs, while requiring careful funding and periodic updates to stay aligned with goals.
Funding involves retitling assets into the name of the trust, such as real estate, bank accounts, investments, and business interests. This step ensures the trust governs assets as intended and helps prevent gaps in coverage. We coordinate with financial institutions to obtain the correct documents and complete transfers.
Often yes for assets placed in the trust, but not always. The trust avoids probate for assets owned by the trust, but accounts titled personally may still go through probate. Because every situation is different, it’s important to coordinate with counsel to ensure funding is complete and goals are met.
The trustee manages trust assets according to instructions and must act with loyalty and prudence. You can appoint a professional trustee or a trusted family member; it’s important to plan for successor trustees and replacements if circumstances change. Clear duties help prevent disputes.
Yes, it is revocable; you can modify, amend, or revoke the trust. You can add or remove beneficiaries as life changes occur. Regular reviews with your attorney help keep the plan aligned with goals and laws.
Real estate, bank and investment accounts, business interests, and valuable collectibles should be funded into the trust. Intangible assets like digital assets may also require instructions. Thorough funding ensures the trust governs all major assets and reduces probate exposure.
Many people use both: a pour-over will to catch any assets not funded into the trust and an accompanying trust to govern the main estate. This coordination helps ensure no assets fall outside the planned framework.
Time depends on the complexity and funding needs; a simple plan may take weeks, more complex arrangements can take months. We provide an estimated timeline after the initial consultation and keep you informed throughout the process.
Costs vary by complexity, asset count, and funding needs. We offer transparent pricing and detailed estimates before work begins. Ongoing maintenance or amendments may incur separate fees, depending on changes and services requested.
No. A revocable living trust allows you to retain control while you are alive. You can modify or revoke the trust at any time, and you remain the primary decision-maker unless you designate a successor.
