Revocable living trusts provide privacy, avoid probate, and enable management of assets if illness or incapacity occurs. They offer ongoing control over distributions and simplify transfers across generations, making them a practical foundation for a modern estate plan.
A well-integrated plan reduces confusion and delays after death or incapacity. Clear trustee appointments, beneficiary designations, and funding instructions help loved ones administer the estate efficiently, with fewer disputes and questions.
Hatcher Legal, PLLC brings a practical, client-centered approach to estate planning in North Carolina. We listen, explain options clearly, and tailor plans to fit your goals, assets, and family structure while ensuring compliance with state law.
Ongoing reviews help catch changes in law, asset values, or family needs. We offer reassessment and updates to keep your plan aligned with current regulations and personal goals over time.
A revocable living trust is a flexible estate planning tool that allows you to control and change how your assets are managed during life and distributed after death. It can help avoid probate and maintain privacy. Funding the trust and choosing a reliable successor trustee are essential steps, and continuous reviews keep the plan aligned with life changes.
Probate avoidance works because assets held in the trust bypass probate court at death. The trust document directs distributions and ownership transfers to beneficiaries according to your instructions. Funding is essential; without it, assets may still pass through probate. Regular funding reviews help ensure the plan remains effective.
Costs vary with complexity, asset types, and whether a plan includes related documents like powers of attorney or healthcare directives. A clear scope helps control fees. We provide upfront explanations and an itemized estimate before drafting begins. Ongoing maintenance may have modest annual costs, reflecting updates and reviews.
Yes. A revocable living trust can be amended or revoked at any time while you are capable. We guide you through the process, re-titling assets as needed and updating successor trustee appointments to reflect your evolving wishes. The flexibility remains a core feature of revocable trusts.
If incapacity occurs, the successor trustee steps in to manage trust assets without court intervention, provided the plan includes appropriate provisions. This helps maintain continuity and respects your directions for financial decisions and distributions during illness or disability. Healthcare decisions are typically guided by separate directives.
A successor trustee takes over administration after the original trustee can’t serve. Their duties include managing assets, paying bills, filing necessary documents, and ensuring distributions follow the trust terms. Choosing someone trustworthy and financially literate is essential for smooth operation. We help you evaluate potential trustees in light of your family dynamics.
Setup times vary with complexity and funding. A simple trust may require a few weeks, while projects with significant real estate or business interests can take longer. We keep you informed with milestones and expected timelines as the plan progresses.
Revocable trusts themselves do not offer tax avoidance in most cases, but they can influence tax planning when integrated with other strategies. Privacy and probate avoidance are common benefits, along with flexible incapacity planning and streamlined asset transfers.
Yes. A trust can be used in conjunction with a will, creating a comprehensive plan that leverages each tool’s strengths. The will can handle assets not funded into the trust, while the trust governs funded assets and distributions.
Start with a consultation to discuss goals, assets, and family dynamics. We’ll outline options, explain costs, and prepare a customized plan. You can then review drafts, sign documents, and set up funding with our guidance.
